Mauricio Umansky – the husband of Real Housewives of Beverly Hills star Kyle Richards – and his real estate company The Agency have successfully settled a massive fraud lawsuit over the sale of a $32 million Malibu mansion. According to a new report, Umansky and The Agency reached a deal with Sweetwater Malibu LLC after they sued him and his company with allegations of fraud.
The Blast is reporting that Umansky is facing multiple lawsuits over the sale of the home, and this specific case has been going on for more than a year. However, Umansky and Sweetwater recently informed the court that they had settled the case without going to trial next March by participating in mediation with a private judge.
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Both Umansky and Sweetwater notified the court recently that they are “in agreement on the principal terms of a settlement that would resolve the case.” And, both parties are requesting a hearing in the next month so the court can finalize the settlement.
“WHEREAS, to facilitate the resolution of the parties’ settlement and the issues with DOJ, the parties hereto agree that the trial date and discovery dates should be continued for a short period of time to enable these matters to be addressed or, if necessary, resolved by the Court,” read the court filing.
ICYMI, Umansky and The Agency found themselves in some serious legal trouble after Umansky agreed to sell a Malibu mansion that had been seized by the United States government from a man named Teodoro Nguema Obiang Mangue because he had allegedly used stolen funds to purchase the property.
Mangue is the son of the president of Equatorial Guinea, and he allegedly stole the money from his home country to buy the house.
— Champagne and Shade (@ChampagneShade) November 30, 2019
When Umansky sold the home – with the approval of the US government – to a man named Mauricio Oberfield for $32.5 million, he apparently forgot to mention that they had received much higher offers. He also forgot to bring up the fact that he had partnered with Oberfield to buy the home at that low price before the duo turned around a year later and flipped the property for $69.9 million and pocketed a $37 million profit.
Mangue – who runs Sweetwater Malibu – proceeded to sue Umansky when he found out about the flip and accused him of breaching his real estate agent duties. But, Umansky denied the accusations, asked the court to toss the case, and fired back by pointing out that the government seized the home from Mangue because he was making millions from illegal activity.
“By suing Defendants and making unfounded and baseless allegations, Plaintiff repeats a strategy Obiang has used before unlawfully enriching himself by using shell companies to take money from innocent parties,” wrote Umansky in his original response to the lawsuit.
Fans of RHOBH actually got the chance to see the mansion during a Season 7 episode when it was the location of a Great Gatsby-themed party.
Mauricio Umansky is still facing another lawsuit over the sale of the home, and recently had another lawsuit concerning the property dismissed.
New episodes of Real Housewives of Beverly Hills will return to Bravo in early 2020.