Lori Loughlin and Mossimo Giannulli, the best-known culprits in a wide-reaching college admissions scandal, splashed out on a La Quinta getaway after serving short stints in low-security prisons.
The couple paid $13 million in an off-market deal for a roughly 9,400-square-foot home at the Madison Club, a gated golf community, according to Dirt. They bought it from Michael and Alexis Rowell, who paid $9.5 million for the home in late 2019. Michael Rowell is the founder of Assurance, the insurance firm that was acquired that year for $2.3 billion.
Loughlin and Mossimo paid a half-million dollars to secure spots for their daughters at the University of Southern California. It was part of a wide-ranging college admissions scandal masterminded by Rick Singer, who bribed officials at several universities to secure entry for his clients’ children.
Loughlin was released late last year after serving two months at FCI Dublin in the San Francisco Bay Area last year. Mossimo was released in April after five months at the Federal Correctional Institution Lompoc. They each paid fines and were required to perform community service.
Their new home, newly built when the Rowells bought it, has five bedrooms and five-and-a-half bathrooms, as well as an infinity-edge swimming pool and floor-to-ceiling glass walls that retract to open the main living area to the back yard.
It’s their third major deal of the last couple years. Mossimo and Loughlin listed their Bel Air home early last year for $29 million and found a buyer at $18.7 million over the summer.
Not long afterwards, the couple bought a newly built mansion in Hidden Hills for $9.5 million.
[Dirt] — Dennis Lynch