Lori Loughlin and her husband Mossimo Giannulli have agreed to plead guilty to conspiracy charges connected to the college admissions case, according to an announcement from the Department of Justice on Thursday, May 21.
Under the terms of the agreement, which is still pending a judge’s approval, Loughlin will serve 2 months in prison and Mossimo will serve 5 months, the Department of Justice said in their announcement.
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The 55-year-old actress will admit to one count of conspiracy to commit wire and mail fraud and the 56-year-old fashion designer will plead to one count of conspiracy to commit wire and mail fraud and honest services wire and mail fraud.
Loughlin’s plea agreement calls for serving two months in prison, as well as paying a $150,000 fine and having two years of supervised release with community service.
Whereas her husband’s agreement calls for five months in prison, paying a $250,000 fine and having two years of supervised release with 250 hours of community service.
Loughlin and Mossimo will formally plead guilty in front of a judge on Friday, May 22, at 11:30 a.m. The couple is the 23rd and 24th parents to plead guilty in the college admissions scandal.
According to the Department of Justice, charges of conspiracy to commit mail and wire fraud and honest services mail and wire fraud could warrant a sentence of up to 20 years in prison.
“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 prior sentences in this case. We will continue to pursue accountability for undermining the integrity of college admissions,” United States Attorney Andrew E. Lelling said in the release.
When asked why the couple agreed to suddenly plead guilty now, a legal source told PEOPLE, “This was a now or never deal. It was presented as the last clear chance for them to plead before going to trial, and they knew that if they were found guilty, they were realistically looking at more than a year behind bars, probably more like three or four.”
“Lori and Mossimo are going through the legal process and want to put this behind them,” a source who is close to the couple told the outlet.
Last March, Loughlin and Mossimo were indicted of paying $500,000 in bribes to get their two daughters, 20-year-old Olivia Jade and 21-year-old Isabella, admitted to USC as recruits for the crew team (even though they have never participated in the sport) as part of an alleged college admissions scam. Loughlin and Giannulli have pleaded not guilty to the charges in the college admissions scandal at the time.