Weeks after they finally plead guilty to their respective roles in the college admissions scandal and took deals that include prison time for them both, Lori Loughlin and her husband Mossimo Giannulli have gotten more bad news, as they were forced to sell their lavish Bel-Air mansion for a staggering $10 million below the asking price.

Loughlin and Giannulli put the home on the market back in January for $28.65 million, but a real estate source told PEOPLE magazine that the house just sold for considerably less than that.

“They are still making money from the sale, just not as much as they hoped for,” the source said. “The house is spectacular with views of the Bel-Air Country Club.

Loughlin and Giannulli bought the home for $14 million back in 2015, and though they listed it for $35 million two years later, they quickly took it off the market. Later, they used the home as collateral for their $2 million bail for the fraud charges they faced for allegedly paying $500,000 in bribe money to have their two daughters admitted to the University of Southern California as members of the crew team, even though neither girl had ever rowed before.

The mansion, which is 12,000 square feet, includes six bedrooms and nine bathrooms as well as a large swimming pool, outdoor courtyard, two living rooms, formal dining room and an eat-in chef’s kitchen. The home was ironically bought by Tinder co-founder Justin Mateen, who is no stranger to scandal himself, as he had to resign as CEO in 2014 amid sexual harassment allegations.

Under the terms of their respective deals, Loughlin will serve two months in prison, pay a $150,000 fine and do 100 hours of community service, while Giannulli agreed to serve five months, pay $250,000 and do 250 hours of community service. They are due in court to officially be given their sentences on August 21, and sources close to them have said that they will be laying low and relaxing until then.

“They are spending the summer in Los Angeles with Olivia and Bella,” an insider previously said. “They are still stressed about the sentencing and can’t wait for it to be over.”

Recommended
Join the Discussion

COMMENTS POLICY: We have no tolerance for messages of violence, racism, vulgarity, obscenity or other such discourteous behavior. Thank you for contributing to a respectful and useful online dialogue.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
More Stuff