Mossimo Giannulli

Mossimo Giannulli is a fashion designer from the United States. He is well known for starting Mossimo, a clothing company. In March 2019, the FBI and the US Attorney’s Office indicted him and his wife, Lori Loughlin, in a large-scale nationwide college entrance exam cheating conspiracy. They were one of 16 parents who were charged with conspiracy to launder money in April 2019.

What is Mossimo Giannulli’s Net Worth?

They got $7.6 million for their Aspen, Colorado house. They listed their mansion in Los Angeles for $35 million. He made his money as a designer for Mossimo, a clothing firm. It was founded by him in 1986. In 2006, Iconix Brand Group bought the company. His current net worth is believed to be $80 million.

What is Giannulli Famous For?

  • Founder of an American clothing company, Mossimo.
  • He and his wife, Lori Loughlin involved in Operation Varsity Blues nationwide scandal.
mossimo giannulli
mossimo giannulli
(Source: Deseret news)

Mossimo Giannulli and Lori Loughlin Faces Additional Charges In College Admissions Scandal:

In the ongoing countrywide college admissions scandal known as Operation Varsity Blues, American designer and his wife Lori Loughlin face more charges. In a superseding indictment, a federal prosecutor in Boston charged the pair with conspiracy to commit money laundering. They colluded to launder payments made to William Rick Singer “by funneling them through Singer’s bogus charity and his for-profit firm,” according to the indictment. Other parents facing similar allegations include Gamal Abdelaziz, I-Hsin “Joey” Chen, Douglas M. Hodge, Michelle Janavs, Homayoun Zadeh, Diane, and Todd Blake, Elizabeth and Manuel Henrique, Elisabeth Kimmel, William McGlashan Jr., Marci Palatella, John Wilson, and Robert Zangrillo. This third charge has a maximum penalty of 20 years in jail, three years of supervised release, and a $500,000 fine.

The pair was previously indicted in March 2019 by the FBI and the US Attorney’s Office in a large-scale nationwide college entrance exam cheating conspiracy. According to the indictment, the couple paid $500,000 to the Key Worldwide Foundation under the premise of a donation in order to deceive the University of Southern California’s admissions committee into believing that their two daughters would be joining the school’s women’s rowing squad if admitted. In actuality, none of their daughters had ever participated in the sport and had no intention of doing so in the future.

Who is Mossimo Giannulli?

Mossimo Giannulli was born on June 4, 1963, in Milan, Italy. He was born in the state of California in the United States. He is an American citizen. Gemini is his zodiac sign. There is presently no information known regarding his parents or siblings. At the University of Southern California, he studied architecture and business. He did, however, drop out of college after three years.

Career:

Mossimo Giannulli founded the clothing company, Mossimo in Balboa Island in Newport Beach, California in 1986

He grossed $1 million in his first year in the clothing business. He made $4 million in the following year.

He expanded the line to include sweatshirts, knits, and sweaters in 1991.

The collection expanded to women’s clothing and men’s tailored suits by 1995.

mossimo giannulli
mossimo giannulli
(Source: Us weekly)

Mossimo, Inc. had grown into a multimillion-dollar lifestyle sportswear and accessories company.

The company went public in 1996 with an initial public offering.

The company tried to take a shortcut from streetwear/beachwear to high fashion but failed. Their shares tumbled from $50 to $4.

He took the brand downscale, announcing on 28 March 2000, Mossimo, Inc. a major, multi-product licensing agreement with Target stores, for $27.8 million.

Iconix Brand Group acquired Mossimo in 2006.

Bribery Scandal:

Giannulli Mossimo and his wife Lori Loughlin were two of the high-profile celebrities implicated in the Operation Varsity Blues nationwide admission exam cheating scam. On March 13, 2019, they turned themselves in to federal authorities in Los Angeles. They allegedly paid $500,000 to the Key Worldwide Foundation under the guise of a donation in order to deceive the University of Southern California’s admissions committee into believing that their two daughters would join the women’s rowing squad if admitted. In actuality, none of their daughters had ever participated in the sport and had no intention of doing so in the future. The pair was granted bail of $1 million each. The couple was allowed to keep their passports and travel outside of the US as long as they told the court beforehand.

Olivia, a social media influencer, lost her sponsorship and collaboration with cosmetics giant Sephora for her beauty channel and Instagram posts.

The pair was identified as defendants in a private class action lawsuit filed by Stanford University alumni as a result of the controversy. They stated that their education and degrees were devalued as a result of their school’s involvement in the affair. After that, the couple was offered a plea agreement in which they would receive two years in prison if they accepted it.

Federal prosecutors in Boston accused the pair with conspiracy to launder money in a superseding indictment issued on April 9. They colluded to launder payments made to William Rick Singer “by funneling them through Singer’s bogus charity and his for-profit firm,” according to the indictment. This third charge has a maximum penalty of 20 years in jail, three years of supervised release, and a $500,000 fine.

Who is Mossimo Giannulli married to?

Mossimo Giannulli is married to Lori Loughlin, an actress. In 1995, they first met. The pair married in 1997 in Newport Beach, California, after eloping on Thanksgiving. Isabella Rose and Olivia Jade are the couple’s two children, while Gianni is their son. Gianni is his former relationship’s son.

  • His daughter Olivia has a YouTube channel with 1 million subscribers and Instagram account with 1 million followers.

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