Mo’ money really does lead to mo’ problems… or something!
Lori Loughlin and Mossimo Giannulli were trying to make that case in federal court as they asked Judge Nathaniel M. Gorton to reduce both their $1 million bonds after they hurriedly sold off their Bel-Air mansion at a HUGE discount! Yikes!
Related: Is Lori Loughlin Really All Set To Make A TV Comeback After This?
On Monday, according to federal court documents obtained by Us Weekly, Olivia Jade‘s embattled parents “respectfully” requested a 90% reduction in their bonds, which had been previously secured by their property. The couple’s attorneys claimed in the filing that Assistant US Attorney Eric Rosen had already agreed with their “request to lift the security requirement and reduce the bail amounts to $100,000.”
Lucky for them, Gorton approved the motion, entering the order in Boston’s US District Court on Tuesday and thereby releasing the lien on their multi-million dollar home.
Clearly the Fuller House alum and her husband’s legal team were able to successfully argue the pair are not a flight risk and will not leave the country ahead of their August 21 court hearing. For those not keeping up, that’s when they’re scheduled to face sentencing following their guilty pleas as part of the broader college admissions case.
The attorneys stated in court docs (below):
“[Loughlin and Giannulli] request an order releasing their $1,000,000 bonds secured by their property, reducing their bail from $1,000,000 to $100,000, and removing the requirement that the $100,000 bonds be secured by money or property … as there is no indication that Defendants will flee rather than face sentencing.”
Aside from the apparent lack of a threat that they’d ever dip out on sentencing, Lori and Mossimo were also grappling with real estate woes over the hopes the court could remove the requirement that their bonds be secured by a lien on their mansion. It’s especially important because they just sold off that very estate — a 12,000 square foot palace in the swanky west Los Angeles neighborhood of Bel-Air — to the co-founder of dating app Tinder for $18 million.
Sounds like they made a pretty penny on the sale, right?! Well… no. The 55-year-old TV star and her fashion designer husband had initially been asking for nearly $29 million for the house, eventually selling it at nearly an $11 million loss.
Related: Lori And Mossimo Quit High-End Country Club After HUGE Membership Battle!
As you’ll recall, both Loughlin and Giannulli eventually pled guilty in the ongoing case after long considering whether it’d be better to take their chances with a trial. Along with the guilty plea, the Summerland alum agreed to serve two months in prison, perform 100 hours of community service, and pay a $150,000 fine. Her fashion biz husband is comparably on the hook for five months behind bars, 250 hours of community service, and a $250,000 fine.
These two will soon face justice for their college admissions run-around once sentencing is officially handed down in a little over a month!
What do U think about all this legal wrangling, Perezcious readers?? Sound OFF about everything here with your opinion down in the comments (below)!!!
[Image via WENN]