Lori Loughlin and Mossimo Giannulli are set to be audited by the Internal Revenue Service (IRS).
An exclusive source revealed to Us Weekly, that the couple allegedly wrote off William “Rick” Singer’s reported scam services as a deduction. “They are being audited for five years on their personal income taxes, along with three years for Mossimo’s business.”
Mossimo Giannulli is an American fashion designer, who made a majority of his net-worth after he scored a licensing deal with Target in 2000 for a reported $27.8 million.
On Monday April 15th, Lori Loughlin and Giannulli pleaded not guilty in the college admissions scam after being indicted by a federal grand jury in Boston. The couple can each face up to 20 years in prison on charges of mail fraud and money laundering conspiracy.
Back in early March, news broke that Lori Loughlin and Felicity Huffman were among the 50 high-profile people heavily involved in "the largest college admissions scam ever," which included fraudulent actions to get their children into prestigious colleges. Some of the actions consisted of bribing college officials, cheating on standardized tests and deceiving athletic achievements.