Mauricio Umansky, the husband of Real Housewives of Beverly Hills star Kyle Richards, has found himself in some legal trouble. Umansky and his luxury real estate company, The Agency, have been sued for fraud, according to federal court documents.
Page Six is reporting that Sweetwater Malibu LLC is suing Umansky and The Agency after they sold a mansion that Sweetwater owned. In the LLC’s court filing, they claim that the government seized the property in 2014 from Teodoro Nguema Obiang Mangue. And, when Mangue made a deal with the Department of Justice, the property was to be sold by his shell company, Sweetwater Malibu LLC, and the proceeds were to go to the people of Equatorial Guinea.
In 2015, Umansky and his company were hired to sell the estate, and Sweetwater Malibu claims that this is where things went wrong. The LLC says that Umansky deceived them into selling the property for $32.5 million to another client of The Agency – a man named Mauricio Oberfeld – so they could get the full six percent commission, even though they knew they could get a much higher price for the mansion.
“Defendants violated virtually every one of these duties, by engaging in blatant acts of self-dealing, earning secret profits, and both failing to disclose and outright misrepresenting material facts,” the documents alleged.
The lawsuit also claims that Oberfeld had to obtain financing or investors to make an offer on the home, even though The Agency claimed to have an all cash offer. Umansky and The Agency allegedly worked with Oberfeld in secret to help him find investors so he could close the purchase. The Agency allegedly received “secret compensation” from the investors they recommended, and favored existing clients.
To make matters worse, Sweetwater Malibu says that Umansky and Oberfeld partnered up to flip the property, and sold it for $69.9 million just one year later.
Now, Sweetwater Malibu is seeking damages, and they are asking the court to rule in their favor.
Back in October, another lawsuit was filed against Umansky, The Agency, and his insurance company over the same property, but the case was dismissed.
Despite his legal troubles, it looks like Umansky’s marriage is going strong. On a recent episode of RHOBH, Umansky and Richards were in Washington DC to drop off their daughter Sophia at college. While Richards was getting ready in their hotel room, she struggled with a misbehaving piece of hair that refused to curl. Umansky didn’t hesitate and immediately jumped in to curl her hair for her.
It turns out, he has some pretty sweet curling skills. “That was actually impressive,” joked Kyle Richards.
New episodes of Real Housewives of Beverly Hills air Tuesday nights on Bravo.