Lori Loughlin, Husband Mossimo Giannulli Indicted on New Charge of Money Laundering Conspiracy | THR News - video Dailymotion

The two were already charged with conspiracy to commit mail fraud.

Transcript

00:00The college admissions scandal isn't over yet. Lori Loughlin and her husband, fashion designer

00:05Mossimo Giannulli, were hit with a new charge in the nationwide scandal on Tuesday.

00:09According to authorities, the Hollywood couple was among 16 parents indicted on the new charge

00:14of money laundering conspiracy. The two were already charged with conspiracy to commit mail fraud.

00:19Now, just FYI, according to authorities, the charge of conspiracy to commit money laundering

00:24provides for a maximum sentence of 20 years in prison, three years of supervised release,

00:29and a fine of $500,000 or twice the value of the property involved in the money laundering.

00:34According to court documents, Loughlin and Giannulli are accused of paying $500,000 in exchange

00:39for having their two daughters designated as recruits to the USC crew team, even though the two

00:44never participated in the sport, thereby guaranteeing their admission to the university.

00:48The couple also faces charges of conspiracy to commit mail fraud and honest services mail fraud.

00:54Both are out on separate $1 million bonds.

00:57This news comes just today after fellow scandal defendant, actress Felicity Huffman, announced her

01:02intentions to plead guilty to her charge of conspiracy to commit mail fraud. The actresses,

01:07along with 48 others, were arrested after federal prosecutors in Boston unsealed a criminal complaint

01:12March 12, charging all with conspiracy to commit mail fraud and honest services mail fraud,

01:17for allegedly cheating the collegiate system in order for their children to be admitted into upper echelon universities.

01:22Alright, for the latest updates on this ongoing story, head to THR.com.

01:26Until next time, for The Hollywood Reporter News, I'm Tiffany Taylor.