Actress Lori Loughlin and fashion designer husband Mossimo Gianulli sold their Bel-Air mansion to Tinder co-founder Justin Mateen for $10 million less than their current asking price.
The pair who had previously listed the house for $35 million in 2017, quietly put up their home for a reduced rate of $28.7 million in the wake of the college admissions scandal.
Mateen snapped up the sprawling mansion for a cool $18,750,000 million. While still above the $14 million Loughlin and Gianulli paid five years ago, they are expected to take a loss due to the significant renovations they have made to the 12,000 square foot estate.
As Loughlin’s sentencing date looms for her role in the college admissions scandal, she and Giannulli seem to be bracing for the possibility that they may be facing jail time.
The couple was arrested during Operation Varsity Blues in March of last year, and both had to put up $1 million bonds to be released. Recently they asked the judge to reduce their bonds to $100,000.
Court papers revealed that the couple specifically requested removal of the provision that guarantees the bonds through a lien on their home. In the documents, their lawyer noted that the couple was unlikely to flee, and the judge agreed to the bond decrease and removal of the lien.
They have continued to reduce costs by recently leaving their pricey Bel-Air Country Club. Loughlin has lost lucrative acting roles on Netflix’s “Fuller House” and recurring work with the Hallmark Channel in the wake of the scandal.
Loughlin and Giannulli vehemently denied paying $500,000 in bribes and falsifying daughters Olivia Jade and Isabella’s college resumes to get them admitted into The University of Southern California as student athletes.
After a year of proclaiming their innocence and accusing the government of withholding evidence, the couple plead guilty in May when prosecutors released shocking email exchanges with scandal mastermind, Rick Singer, and photos of their eldest daughter posing on a rowing machine.
The plea agreement recommends a five-month sentence for Giannulli, and just two for Loughlin, who will be sentenced on August 21.