By: Ernest Myers
Actress Lori Loughlin and her husband, Mossimo Giannulli, have sold their Bel Air mansion for roughly $10 million below the asking price. As reported by the NY Post, the former “Full House” star and her fashion designer husband, are expected to be sentenced in August, following their admission in connection with the college admissions scandal, which also involved dozens of other parents.
In January, the couple had put their home up for sale at an asking price of $28.65 million. After months on the market the home just sold for nearly half that price, sold to Tinder co-founder Justin Mateen, as first reported by Variety. The official sale price is not yet officially listed, however, a source told the magazine that it was sold for about $18 million. The couple paid $14 million for the home in 2015, and had also poured money into it making complete overhaul renovations. The mansion boasts six bedrooms and nine bathrooms, a large swimming pool, outdoor courtyard, two living rooms, formal dining room and an eat-in chef’s kitchen.
The 12,000-square-foot villa had originally been put up for sale asking $35 million back in 2017, but it was taken off the market the following year. “They are still making money from the sale, just not as much as they hoped for,” a source told PEOPLE. “The house is spectacular with views of the Bel-Air Country Club.” The couple had been coerced to quit their posh country club following their admission, and is now believed to be staying in a beachfront home in Orange County.
The couple admitted to paying $500,000 in bribes to the convicted mastermind of the college admission scandal, William Singer, to get their daughters Olivia Jade Giannulli and Isabella Rose Giannulli accepted into the University of Southern California. Loughlin, 55, agreed to serve two months behind bars, pay a $150,000 fine and complete 100 hours of community service as part of the May 22 plea deal. Giannulli, 56, who got the same charge plus one count of honest services wire and mail fraud, agreed to serve five months in jail, pay a $250,000 fine and perform 250 hours of community service. The deal still needs to be approved by a judge at their next sentencing, set for August 21.