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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
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Lori Loughlin and Mossimo Giannulli agree to plead guilty in college admissions scandal and serve prison time

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Alanna Durkin Richer
Alanna Durkin Richer
and
The Associated Press
The Associated Press
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By
Alanna Durkin Richer
Alanna Durkin Richer
and
The Associated Press
The Associated Press
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May 21, 2020, 9:57 AM ET
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“Full House” actress Lori Loughlin and her fashion designer husband, Mossimo Giannulli, agreed to serve prison time as part of a plea deal in the college admissions bribery case, according to court papers filed Thursday.

Loughlin has agreed to serve two months behind bars and Giannulli has agreed to serve five months under the deal that must be approved by the judge. They are scheduled to plead guilty Friday via video conference.

Loughlin and Giannulli were scheduled to go to trial in October on charges that they paid $500,000 in bribes to get their daughters into the University of Southern California as crew team recruits, even though neither of them played the sport.

The famous couple had insisted they were innocent and said they believed their payments were legitimate donations. Earlier this month, the judge rejected their bid to dismiss the case over allegations of misconduct by FBI agents investigating the scam.

They agreed to plead guilty to conspiracy to commit wire and mail fraud in a plea agreement filed in Boston’s federal court. Prosecutors have agreed to dismiss charges of money laundering and federal programs bribery that were added after the case was filed.

“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,” U.S. Attorney Andrew Lelling said in an emailed statement. “We will continue to pursue accountability for undermining the integrity of college admissions.”

An attorney for the couple declined to comment.

Loughlin and Giannulli were among 50 people arrested last year in the case dubbed “Operation Varsity Blues” that rocked the word of higher education. They are the 23rd and 24th parents to plead guilty in the case.

The case uncovered a scheme in which wealthy parents paid huge sums to secure students’ admission at elite schools as fake athletic recruits or have someone cheat on their entrance exams, authorities said.

Others who have pleaded guilty in the case include “Desperate Housewives” actress Felicity Huffman. She served nearly two weeks in prison late last year after she admitted to paying $15,000 to have someone correct her daughter’s entrance exam answers.

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