Lori Loughlin, Mossimo Giannulli agree to plead guilty, will both serve jail time

Actress Lori Loughlin and her husband Mossimo Giannulli have reportedly agreed to plead guilty in the 2019 college admissions scam.

What's a brief history here?

Loughlin, 55, and Giannulli, 56, are accused of paying at least $500,000 to secure their two daughters' admission to the University of Southern California. Their daughters were accepted into USC as crew recruits despite neither of them having any experience as rowers.

The two are among an even larger group of parents who were reportedly involved in a large-scale scam to defraud college admissions in order to secure placement for their children.

Authorities charged the pair in March as part of the largest college admissions cheating scandal ever prosecuted in the United States.

What are the details?

The two will plead guilty to conspiracy charges in connection with the scandal, according to the Department of Justice.

Loughlin has reportedly agreed to serving two months in prison, a $150,000 fine, and two years of unsupervised release with 100 hours of community service. For his part, Giannulli reportedly agreed to five months in prison, a $250,000 fine, and two years of unsupervised release with 250 hours of community service.

The two are scheduled to appear in court Friday where they will plead guilty.

In February, Loughlin and Giannulli's lawyers said they had evidence that would exonerate the two of wrongdoing. Loughlin previously insisted that the funds sent to the school were "legitimate donations."

According to CNN, the couple could have faced up to 20 years in prison if they had gone to trial and been convicted.

Anything else?

In a Thursday news release, the Justice Department stated, "Loughlin will plead guilty to one count of conspiracy to commit wire fraud and mail fraud, while Giannulli will plead guilty to one count of conspiracy to commit wire and mail fraud and honest services wire and mail fraud."

U.S. Attorney Andrew E. Lelling added, "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. We will continue to pursue accountability for undermining the integrity of college admissions."

You can read more on the background of the case here.