Lori Loughlin and her husband Mossimo Giannulli are currently selling their $28 million mansion. However, according to a source, the reason for the sale has nothing to do with them needing money.
Loughlin and Mossimo are some of the celebrities who are currently facing jail time due to their involvement in the college admissions scandal. As they face different reports and rumors in the media, the couple has made a financial decision for their family.
The source said: "Everyone seems shocked Lori and Mossimo would put their house up for sale in the midst of their legal troubles.” However, the insider explained that the pair have wanted to sell their house “for a long time."
Mossimo Giannulli and Lori Loughlin at LACMA's 50th Anniversary Gala on April 18, 2015, in Los Angeles, California | Photo: Donato Sardella/Getty Images
The “Full House” and “Fuller House” actress and her husband stopped the sale of their Los Angeles home due to the college admissions scandal. The sale was halted in order for the couple to focus on defending their court case.
However, the source revealed that the pair saw that the case would take longer than expected and decided to put the house on the market again. The insider shared: “It is one step they are taking in an attempt to get back to their normal lives."
Mossimo Giannulli and Lori Loughlin at the Target Hosts LA Fashion Week Party for Giannulli on October 19, 2006 | Photo: L. Cohen/WireImage/Getty Images
The informant further explained: "They aren't selling their home because they are cash strapped." The insider confirmed that the couple was financially stable.
It’s been reported that Giannulli actually had a passion for real estate. The famous couple generally would sell their home and move every three-to-five years.
Lori Loughlin and Mossimo Giannulli leave the John Joseph Moakley United States Courthouse in Boston on August 27, 2019 | Photo: John Tlumacki/Getty Images
In the last few years, their Spanish-style home was placed on the market for $35 million before they took it off. The current listing is being handled by real estate agent Arvin Haddad of The Agency.
Last month, the actress and her fashion designer husband’s lawyers claimed that prosecutors had proof that they were innocent in the scandal. The new filing states that the payments Loughlin and Giannulli made to Rick Singer were actually legitimate donations.
The famous couple is among 36 parents accused of paying into a criminal network led by Singer. The ring-leader was a college admissions consultant from California.
He took payments in exchange for either signing up students as fake athletic recruits to get them admitted into elite colleges or fixing their college entrance exam scores. Singer pleaded guilty for his crimes.
Loughlin and Giannulli were accused of paying $500,000 to a nonprofit led by Singer and a University of Southern California (USC) athletics official. The payment was allegedly made so that their daughters would be signed up as crew recruits to get them into USC despite them not playing the sport.
The famous couple is parents to Isabella and Olivia Giannulli.