Actress Lori Loughlin and husband designer Mossimo Giannulli have been embroiled in the college admissions controversy for almost a year now and their legal battle seems to be far from over still. Thus, it comes as an interesting move that the couple has reportedly put their home on the market and even raising questions about their current financial situation.
The Real Reason
According to an anonymous source in an interview with People magazine, the couple ‘don’t need the money’ and that their listing of their home for $28.7 million has nothing to do with their upcoming criminal trial for allegedly bribing college officials. In fact, the source adds that Giannulli, who’s best known as the founding designer of the clothing brand Mossimo, has been in the business of buying and selling houses for over two decades. It’s worth noting though that the couple previously reportedly used the same home as collateral for their bail.
In No Rush
Meanwhile, a real estate insider has also told People that the couple is determined to only sell the property ‘for the right price’ and are showing their house to buyers who are pre-screened. At the same time, they’re looking for something private for their next residence. Loughlin and Giannulli originally bought their home for $13.995 million.
The mansion overlooks the Bel-Air Country Club’s golf course and spans a massive 12,000 square feet. It features two living rooms, an eat-in chef’s kitchen, and a formal dining room inside. Outside, it has an outdoor courtyard as well as a large swimming pool.
The couple is being accused of spending half a million dollars to get their two daughters into the University of Southern California (USC) with the help of Rick Singer, a college admissions consultant. The two reportedly passed off their daughters as recruits for the university’s crew team despite not having ever participated in the sport. And to make their story more believable, they also allegedly took photos of their children Isabella Rose and Olivia Jade posing in a rowing machine.