Here’s a bit of good news for Lori Loughlin and Mossimo Giannulli but unfortunately, it comes with a costly caveat.
The embattled couple has finally sold their multi-million dollar Bel-Air mansion, which they put on the market for $28.7 million back in January. Although the official sale price has not yet been recorded, sources claim the two absolutely did not cash out on that amount, but instead, far lower than their asking price. Is anyone really surprised?
Related: Lori Loughlin Is ‘Scared To Death’ She’ll Catch COVID-19 In Prison
Speaking to People with inside knowledge of the sale, one source claimed:
“They are still making money from the sale, just not as much as they hoped for. The house is spectacular with views of the Bel-Air Country Club.”
Wait, the same country club that unceremoniously suspended Lori and Mossimo from their fold until after their prison sentences were served for their role in the ongoing college admissions scandal? No wonder they wanted to get far, far, away…
Exactly how much were they hoping for while in the midst of one of the biggest stories of the decade though? Olivia Jade and Isabella Rose‘s parents surely needed to replenish their pockets after paying mastermind Rick Singer $500,000 to help pay their daughters’ way into the University of Southern California, right??
For context, the former Fuller House star and her husband initially listed their home for $35 million back in 2017, but later took it off of the market a year later. They went on to use the property as collateral for their $2 million bails for their multiple fraud charges in 2019. Still, insiders said they weren’t in a rush to find a buyer as long as it was the right one. Giannulli reportedly “has been buying, refurbishing and renovating and selling houses for over 20 years,” and was said to be cool as a cucumber about the situation:
“They don’t need the money. They are stressed about a lot of things, but money isn’t one of them.”
According to Variety, which first reported on the sale, the home was purchased by Tinder co-founder Justin Mateen, who resigned as CEO in 2014 amid sexual harassment allegations. The outlet’s source claims Mateen actually scored the sprawling pad for about $18 million.
Again, for context, that’s THIRTY-SIX TIMES as much as the pair paid for their daughters to get into USC!
So, yeah. We’d dare to say the couple did alright with flipping their home, all things considered. The 12-000 square-foot estate includes six bedrooms and nine bathrooms, a large swimming pool, an outdoor courtyard, two living rooms, formal dining room, and an eat-in chef’s kitchen. The actress and fashion designer are reportedly living at their beach house in Orange County for the time being. Quite impoverished conditions *eye roll*, but we’re sure they’ll manage until their official sentencing on August 21.
As a reminder, Loughlin is slated to serve two months in prison (though the coronavirus pandemic could affect that time), pay a $150,000 fine, and do 100 hours of community service for one count of conspiracy to commit wire and mail fraud, while Giannulli agreed to serve five months, pay $250,000, and do 250 hours of community service for one count of conspiracy to commit wire and mail fraud and honest services wire and mail fraud.
Till then, Perezcious readers!
[Image via Dimitri Haldikis/WENN]
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