Lori Loughlin and husband Mossimo Giannulli recently put their multi-million dollar mansion up for sale amid the ongoing college admission scandal. Both Loughlin and Giannulli currently face up to 50 years in prison for their alleged involvement in the scandal. While it was originally unclear why they decided to list their $28 million Bel-Air mansion, Us Weekly now reports mounting legal bills are to blame.
A source told Us Weekly that Loughlin and Giannulli’s “legal bills are mounting” and they “need the money to pay” for their representation. Though Loughlin and Giannulli both had long, successful careers up to this point in time, the source revealed the couple are now "strapped to cash" due to their ongoing legal battle.
“Lori is stressed and worried about money being tight at the moment due to all their expenses with lawyers,” another insider spilled. Since Loughlin isn't due to stand trial until October 2020, the legal bills won't be slowing down any time soon. Loughlin purchased her home in 2015 for $14 million, so, she stands to make a profit on the home if she's able to sell for the $28 million listing price.
Loughlin's financial situation is reportedly shocking to her close friends and family. “People around them were even shocked about the amount of money that Lori and Mossimo allegedly paid to get their daughters into school,” a source revealed. “They are strapped for cash right now [because] she can’t take on work at the moment.”
Loughlin and Giannulli have pleaded not guilty to all charges brought against them, including one count of conspiracy to commit federal programs bribery as well as those of conspiracy to commit mail and wire fraud, honest services mail and wire fraud, and money laundering conspiracy. In recent weeks, it’s been revealed the pair’s daughters could be called to testify if they don’t change their plea to guilty. As of now, Loughlin and Gianulli have no plans to change their plea.
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