Lori Loughlin's Daughter Vacationed on Billionaire USC Official's Yacht

Olivia Jade Giannulli and Lori Loughlin

Olivia Jade is at the center of the university cheating scandal, as her parents are accused of bribing her way into USC for $500,000.

Lori Loughlin and Mossimo Giannulli's 19-year-old daughter was on the yacht of billionaire Rick Caruso, the chairman of USC's Board of Trustees, during Tuesday's indictment that charged the couple in a nationwide college cheating scandal.

The Hollywood Reporter has confirmed that Olivia Jade Giannulli, a freshman at USC, was in the Bahamas for spring break on Tuesday with Caruso's 19-year-old daughter Gianna "Gigi" Caruso, before she returned to Los Angeles on Wednesday, according to multiple outlets. Both women are freshmen at USC.

"My daughter and a group of students left for spring break prior to the government's announcement yesterday. Once we became aware of the investigation, the young woman decided it would be in her best interest to return home," Caruso said in a statement to THR.

Caruso's 216-foot yacht Invictus, valued at over $100 million, accommodates 12 guests and 19 crew members, according to reports.

Loughlin and Mossimo Giannulli have been charged in the scheme to get their two daughters admitted to USC by paying $500,000 to have the children designated as recruits for the rowing team, though they did not row crew.

"The charges filed yesterday against employees of USC are disturbing and the alleged activity is absolutely wrong," Caruso continued. "I am saddened that these people would abuse their positions of trust and, as the government has alleged, victimize USC in the process. There is no option other than zero tolerance for this type of behavior. As a result, USC has fired the alleged wrongdoers."

Caruso is the developer behind The Grove at Farmers Market and several other Los Angeles developments. His influencer daughter has 29,400 followers on Instagram and is CEO and co-founder (with her mother, Tina, a former swimsuit model and designer) of the luxury swimwear line Gigi C Bikinis, launched in 2017.

Born with hearing loss, Gigi Caruso was treated by doctors at USC's Keck School of Medicine. In 2015, Rick and Tina Caruso donated $25 million to the school to endow and name it the USC Tina and Rick Caruso Department of Otolaryngology — Head and Neck Surgery, known for research and treatment of ear, nose and throat diseases.