Lori Loughlin & Husband Mossimo Giannulli Sell Home To Tinder Founder For $19 Million
Lori Loughlin and her husband Mossimo Giannulli closed a deal on their house on Wednesday to a Tinder co-founder Justin Mateen. They sold the six bedroom, nine bathroom and 9,000 square foot home for $18.75 million, about $10 million under their original asking price of $28.7 million.
The couple has been known to sell their homes every three to five years and first bought the property in 2015 for $13.9 million. In 2017 they put the house on the market for $35 million, but did not find a buyer.
The closed deal comes after both Loughlin and Giannulli pleaded guilty in May for wire and mail fraud as part of a plea deal. The two were arrested for getting their daughters Olivia Jade Giannulli and Isabella Rose Giannulli into the University of Southern California by paying a $500,000 bribe to list them as crew team recruits when neither would actually be participating in the sport.
Although they are still waiting for their official sentence, the terms of the deal state that Loughlin will serve two months in prison, two years of supervised release, complete 100 hours of community service and pay a $150,000 fine. Her husband will spend five months in prison, two years of supervised release, pay a $250,000 fine and complete 250 hours of community service.
At the time of their trial, United States attorney Andrew Lelling stated, “Under the plea agreements filed today, these defendants will serve prison terms reflecting their respective roles in a conspiracy to corrupt the college admissions process and which are consistent with proper sentences in this case. We will continue to pursue accountability for undermining the integrity of college admissions.”