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Kyle Richards' husband, Mauricio Umansky, sued for fraud as part of a $ 32 million deal in Malibu … after his house was sold at twice the price of the property. ;one year later
- Federal lawsuit alleges Umansky made "secret profits" by returning home
- He sold the house to a wealthy investor in 2016 for $ 32 million
- Mauricio invested in the 15,000 square foot house, resold $ 69.9 million
- Documents indicate that "the case concerns reckless breaches of fiduciary duties"
- Malibu Manor is located on a cliff above the famous Malibu Pier
By
Tracy Wright For Dailymail.com
published:
1:31 pm EDT, March 14, 2019
|
Update:
15:55 EDT, March 14, 2019
He is regularly featured in his wife's hit show, The Real Housewives of Beverly Hills.
But Mauricio Umansky is in his own drama after recently being slapped by a federal lawsuit for the sale of a $ 32 million mansion in Malibu, according to The Blast.
The 48-year-old real estate agent and his company, The Agency, are accused of fraud by Sweetwater Malibu LLC for "realizing secret profits" after Umansky's sale of the house to a man in 2016, but only for return it and resell it for $ 69.9 million. one year later.
Trouble: Mauricio Umansky is in his own tragedy because he was recently slapped by a federal lawsuit for the sale of a $ 32 million mansion to Malibu, according to The Blast; seen with his wife Kyle Richards in February
"This case concerns a flagrant breach of fiduciary duties by an upmarket real estate broker and his company, the Agency, who were hired to sell a multi-million dollar Malibu estate owned in Sweetwater ", according to documents.
Mauricio was appointed as a sales agent in 2015 after the US government partially seized the 15,000-square-foot house in Teodoro Nguema Obiang Mangue.
The son of the president of Equatorial Guinea had used stolen funds from his country to buy the house, in addition to several memorabilia of Ferraris and Michael Jackson, according to The Real Deal.
At Home and His Home: The 48-year-old real estate broker and his company, the agency, are charged with fraud by Sweetwater Malibu LLC for "making secret profits" after selling the house to a man by Umansky in 2016. – sell $ 69.9 million a year later
Views: The large property overlooks the historic Surfrider State Beach and was showcased during Season 7 of Real Housewives of Beverly Hills
Umanksy reportedly sold the house to a wealthy investor named Mauricio Oberfeld for $ 32.5 million in February 2016 and reportedly invested in the deal, before the pair toppled the house for a double profit in 2017.
Sweetwater said that Umansky had received much higher parallel bids and would never have revealed that he had partnered with the buyer to buy the property.
The documents list the responsibilities of the intermediaries and accuse Umansky and the Agency of having "violated virtually each of these obligations by engaging in flagrant acts of transactional crime, making secret profits, failing to disclose and distorting material facts. "
Drinks with a View: The courtyard lawn has been transformed into a Great Gatsby-themed event for the Bravo show
"About last night," Kyle subtitled a photo of the event for an Instagram photo shared in 2017
Expansive: Guests were treated to valet services as they arrived at the party
A separate complaint filed by Western World Insurance against Mauricio and the agency claimed that he had violated the purchase contract and asked the court not to have to pay any bills.
He then filed a lawsuit and accused the company of taking sides, and Umansky filed documents on October 22 stating that he had entered into an agreement with the insurance company and that all claims of 39, compensation had been rejected.
Malibu Manor is located on a cliff above the famous Malibu Pier and offers panoramic views of the Pacific Ocean.
Kyle and Mauricio hosted a Great Gatsby-themed party at the resort during Season 7 of the Real Housewives of Beverly Hills.
Party Organization: Before the sale of the house, Mauricio used the mansion as a meeting place
A Vision: Kyle and Mauricio hosted a Great Gatsby-themed party at the resort during Season 7 of the Real Housewives of Beverly Hills.
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