Lori Loughlin and husband Mossimo Giannulli have put their multimillion-dollar mansion on the market while they face criminal prosecution as part of the college admissions cheating scandal.
The couple, who are facing jail for their involvement in the scandal, are selling their 12,000-square-foot Bel-Air estate for an asking price of $28.65 million, TMZ reported.
The reason for the sudden sale is to allow Giannulli to pursue his passion for architecture, sources told TMZ.
Last year, People reported that the couple used the property as collateral for their $2 million bail after they were arrested on fraud charges.
At the time, U.S. District Judge Alexander MacKinnon allegedly told Giannulli that if he violated his terms of release, the government could foreclose the property, which includes six bedrooms and nine bathrooms.
They purchased the residence in 2015 for $13.995 million and then reportedly tried to sell it in 2017 for $35 million before taking it off the market the following year. They have since been "laying low" in the mansion as the college admissions scandal unfolds.
Loughlin and her husband stand accused for paying $500,000 to get their two daughters admitted into the University of Southern California through bribery as purported crew recruits.
They are among dozens of others charged with participating in the scheme, which prosecutors claim they did with the help of William "Rick" Singer, a California college admissions consultant who has pleaded guilty to helping bribe university sports coaches to present clients' children as fake athletic recruits.
The couple pleaded not guilty to the charges against them, but they face up to 20 years in prison if convicted.
Zoe Papadakis ✉
Zoe Papadakis is a Newsmax writer based in South Africa with two decades of experience specializing in media and entertainment. She has been in the news industry as a reporter, writer and editor for newspapers, magazine and websites.
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