The UTA-repped Loughlin and Giannulli were part of a yearlong investigation that also snared American Crime star Huffman and more than 30 other parents.
Reportedly, they are facing off against a potential prison sentence of 40 years for fraud as well as money laundering.
According to the documents filed Monday, Loughlin and Giannulli said they waived their right to appear in Boston federal court for their arraignment.
The criminal complaint against Giannulli and Loughlin includes evidence from a cooperating witness, emails, bank records and a recorded phone call with each parent.
The superseding indictment unsealed last week charges that the couple and 14 other parents conspired to "conceal their fraud scheme by funneling bribe and other payments through the facade" of the Key Worldwide Foundation, a sham charity established by William "Rick" Singer, who federal prosecutors identified as the ringleader of the nationwide scam. So that is something that has understandably made her less likely to enter a plea, ' the unnamed person told People.
The source goes on to emphasize that Lori didn't understand how serious her actions were. Singer then allegedly facilitated cheating on Huffman's daughter's SAT test by having a proctor correct the teen's answers after the fact.
"They chose to roll the dice", the legal source told PEOPLE last week about their decision to reject the plea deal, "and it may have been a bad gamble".
Gather round, children, because I have an update on everyone's favorite college admissions scandal, aka "Operation Varsity Blues."