Lori Loughlin and Mossimo Giannulli have sold their mansion in Los Angeles for considerably less than the couple hoped for. They also asked the court for a bail cut from $1 million to $100,000 ahead of their sentencing next month.
In May, the couple accepted a plea agreement as they pleaded guilty to one count each of conspiracy to commit wire fraud and mail fraud in the nation's college admissions scandal. Their sentencing on the conspiracy charges is set on August 21.
The couple filed on Monday a motion asking the court to release the $1 million bonds secured by their property, reducing their bail from $1 million to $100,000, and lift the requirement that the $100,000 bond would be secured by money or property.
The couple's lawyers also vowed that the actress and her fashion designer husband will not flee. The federal prosecutors in Boston approved the couple's requests.
Prior to their court filing, the Full House actress and Giannulli sold their Bel-Air property in Los Angeles. It was the same house that the couple used as collateral to cover their $2 million bail.
The celebrity couple acquired the mansion in 2015 for $13.9 million. In 2017, they listed it for $35 million but later took it off the market. According to People Magazine, Loughlin and Giannulli put the property back on the market earlier this year for $28.65 million.
The 12,000 square-foot mansion has a spectacular view of the Bel-Air Country Club, where they also recently resigned from. It was frequently featured on the YouTube video of the couple's daughter, Olivia Jade. The family is believed to be staying at their beach home in Orange County, California.
The exact sale price of Loughlin and Giannulli mansion has not yet been recorded. However, according to the court document on the couple's case, the property is valued at $18 million.
The When Calls The Heart star and Giannulli were among the more than 50 people who got entangled in the biggest college admissions scandal in the U.S. They were accused of lying, cheating and bribing some people in exchange for their children's admission into elite universities.
If the couple's plea deal agreement was accepted by the judge, Lori Loughlin would serve two months in prison, pay a fine of $150,000, serve two years of supervised release, and undertake 100 hours of community service. Giannulli, on the other hand, would spend five months behind bars, pay a $250,000 fine, will have two years of supervised release, and 250 hours of community service.
