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Lori Loughlin and Mossimo Giannulli are moving on from their posh Bel-Air mansion and the property is now in escrow, according to new reports.
The couple – who are both awaiting sentencing for their roles in the infamous college admissions scandal after pleading guilty in May — is said to have entertained a number of offers for the palatial Spanish-style estate, settling on a number that still nets them a profit on the property, a source told “Entertainment Tonight” on Monday.
Loughlin, 55, and Giannulli, 57, listed their Bel Air home in January for $28.65 million, the outlet reported, but sold the sprawling mansion for an estimated $18 million to Tinder co-founder Justin Mateen, according to Variety, which cited sources in identifying the estimated sale price.
Lori Loughlin and Mossimo Giannulli’s Bel-Air home (Google Street View)
In January when Loughlin and Giannilli first listed their home on the market, an insider told “Entertainment Tonight” at the time that folks were “shocked” at their decision and noted that even though they’ve “wanted to sell their home for a long time,” it simply “hasn’t been a priority.”
Variety reported the couple paid $14 million for the home.
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The insider also relayed to “Entertainment Tonight” that the actress and fashion designer “have been through so much in the last year” and putting the home up for sale was “one step they are taking in an attempt to get back to their normal lives.”
The couple also recently parted ways with the Bel-Air Country Club, TMZ reported last month. The club’s board voted unanimously to suspend their memberships in the wake of the guilty plea, but to allow them to return after serving their prison terms.
The duo has been accused of arranging a total collective payment of $500,000 to William “Rick” Singer to get their daughters, Olivia Jade and Isabella, recruited to the University of Southern California (USC) as athletes on the crew team, despite never having participated in the sport.
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The bribery charges carry a maximum sentence of up to five years in prison and a fine of up to $250,000. The couple was also hit with charges of money laundering and conspiracy that carried a potential sentence of 40 years.
FILE – In this April 3, 2019, file photo, actress Lori Loughlin, front, and her husband, clothing designer Mossimo Giannulli, left, depart federal court in Boston after a hearing in a nationwide college admissions bribery scandal.
((AP Photo/Steven Senne, File))
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Per the terms of their agreement, Loughlin would serve two months and pay a $150,000 fine along with two years of supervised release and 100 hours of community service. Giannulli, meanwhile, would serve five months in prison, pay a $250,000 fine with two years of supervised release and 250 hours of community service.
Among the parents who have already pleaded guilty in the case is former “Desperate Housewives” star Felicity Huffman. She served almost two weeks in prison after she admitted to paying $15,000 to have someone correct her daughter’s entrance exam answers.
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Sentencing for the pair is slated for August 21.
Fox News’ Tyler McCarthy and Fox Business’ Stephanie Pagones contributed to this report.
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