Lori Loughlin

BOSTON — Actress Lori Loughlin and her fashion designer husband, Mossimo Giannulli, have agreed to plead guilty to charges in the college admissions bribery case and serve prison time, according to court papers filed Thursday.

The couple agreed to plead guilty to conspiracy to commit wire and mail fraud in a plea agreement filed in Boston’s federal court. The charge carries up to 20 years in prison and a fine of $250,000.

Prosecutors have agreed to dismiss charges of money laundering and federal programs bribery that were added after the case was filed.

Under the plea agreement, Loughlin has agreed to serve two months in prison and Giannulli has agreed to serve five months. The plea deal must be approved by the judge.

“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,” said U.S. Attorney Andrew Lelling.

Loughlin and Giannulli are accused of paying $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.