Lori Loughlin Sells Bel Air Mansion For $10+ Million Below Asking Price

Lori Loughlin and her husband Mossimo Giannulli have sold their family's Bel Air mansion amid their ongoing college admissions court case. The couple sold the home at a significant financial loss, as well, receiving more than $10 million below their initial asking price for the transaction.

According to a report from Variety, Loughlin and Giannulli sold the house to Tinder co-founder Justin Mateen for $18 million. They originally listed the Bel Air mansion for $28.7 million. Loughlin and Giannulli purchased the home back in June 2015 for $14 million and spent an unknown amount in renovations over the years, according to the report. The home is 12,00 square feet and consists of six bedrooms, nine bathrooms, an eat-in chef’s kitchen, two living rooms, an outdoor courtyard and a swimming pool.

The sale of Louglin and Gianulli's Bel Air home comes shortly after it was revealed they were embroiled in drama at their exclusive Bel Air country club, as well. The country club's board of directors voted to suspend Loughlin and Giannulli's memberships after they were charged for their involvement in the bribery scandal, however, this decision didn't fly with the club's president Michael Gallagher. According toTMZ, Loughlin and Giannulli were to have their membership reinstated after they served time, but Gallagher put a stop to that. "This unprecedented board decision to allow felons to continue as members causes irreparable reputational harm to the Club and its members," Gallagher wrote in a scathing letter to the board.

"The board action, taken on behalf of the Club's membership, now establishes our Club as a place of refuge and comfort for known felons," the letter reads. "This matter is already well known in the golfing world, domestically and internationally, and our Club has become a laughingstock."

After Gallagher spoke out against them, Loughlin and Mossimo "voluntarily resigned much to the disappointment of many of the members and the board" a source with knowledge of the situation informed People. They're both reportedly "upset" over the loss of their club membership. "The club has been an important part of their social life for a long time," the source continued. "They didn’t want to resign, but also felt they didn’t want to be a part of drama and hostility. They were upset about it, but felt like they had no choice. They didn’t feel welcomed."

Loughlin and Gianulli will both serve brief prison sentences for their their involvement in the bribery scandal. Loughlin is expected to serve just two months, while Giannulli will serve five months. Their official sentencing will take place in August.

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