Their plea agreements, reached with the U.S. Attorney’s Office of Massachusetts, call for two months in prison for Ms. Loughlin and five months for Mr. Giannulli, though U.S. District Judge Nathaniel Gorton still has to officially accept those sentences.
The judge set sentencing dates of Aug. 21, though William Trach, Mr. Giannulli’s lawyer, said the couple would actually like to be sentenced earlier, in late July, in part “to have finality on this process.” The judge said he will consider that request.
Ms. Loughlin, 55 years old, pleaded guilty to one count of conspiracy to commit wire and mail fraud, while Mr. Giannulli, 56, pleaded guilty to the same charge, as well as one of conspiracy to commit honest-services wire and mail fraud.
As for why the couple decided to plead guilty, a source close to Loughlin tells E! News, "They are ready for it to be over with and to get on with their lives."
"This has ruled their lives and has been hanging over their heads for so long, it has really taken its toll," the insider shares. "They were feeling very concerned about the virus and jail sentences and they are hopeful the court will sentence them appropriately. They want to put this behind them and move on."
"They didn't want to endure the stress of a trial and continue dealing with this on a daily basis. It's time to move on and start over again," the source continues. "They don't know if the judge will sign off or delay their jail time. But they are hopeful and they know there is a chance they will start their sentences and be able to serve at home. They are waiting to find out."