Mauricio Umansky is charged with stealing $3.5 million from loans intended to help alleviate the pandemic.
As per The Shahab, in a recent complaint, Relator LLC asserted in court that Umansky, 54, and his real estate company, The Agency, filed for and were granted two loans totaling $3,521,153.00 under the Payroll Protection Program (PPP) and the CARES Act.
The scheme was designed to assist in preventing employee termination by lending money to companies who were unable to pay workers as a result of the COVID-19 pandemic's effects. Umansky's company was accused in the case of “falsely” claiming that they needed the loans in order to pay their staff.
The Agency “applied for and received amounts exceeding the loan limit of 2.5 monthly salary with a cap of $100,000 annual salary per employee,” according to the documents.
According to Relator LLC, Umansky's business would not have been significantly impacted by the pandemic shutdown because the majority of its revenue came from real estate deals that were “typically between millionaires and billionaires,” not from customers who were unable to make purchases due to the shutdown's restrictions.
According to the report, The Agency's revenue “grew massively” in 2020, earning $6.5 billion, and in the following year, it earned $11.2 billion.
“Defendants would have kept sizable reserves to continue paying their employees if they had known this. The documents stated that it would have been incredibly reckless to act in any other way, particularly for real estate industry professionals.
“Defendants explicitly did not hold themselves out as grossly irresponsible, as alleged above, and their success and experience confirm they were not.”
The lawsuit requested that Umansky and his company reimburse the court for damages three times over.
The news was first reported by In Touch. Umansky refuted the claims made to the media outlet. The claims were addressed to Us by an agency representative.
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“The Agency has always conducted business with the utmost honesty, even if we are unable to comment on litigation that is currently pending. The statement said, “Like many companies, we encountered major obstacles during the COVID-19 pandemic, including cuts and layoffs.
Our priorities have always been providing outstanding customer service and providing support to our staff, particularly during that difficult time. We plan to actively defend against these baseless assertions, which do not accurately reflect our business and financial status at the time we applied for our PPP loans.
The most well-known aspect of Umansky's profile is his romance with Kyle Richards of Real Housewives of Beverly Hills. After 27 years of marriage, the pair separated in July 2023. The divorcing couple has three daughters: Alexia, 28, Sophia, 24, and Portia, 16.
They have not yet filed for divorce. Richards shares a 35-year-old daughter named Farrah with her ex-husband Guraish Aldjufrie, and Umansky is her stepfather.
Following his career at The Agency, which he started in 2017, Umansky received his own Netflix series, Buying Beverly Hills, after making multiple seasons appearances on Real Housewives of Beverly Hills.
Umanskey collaborates with his daughters Farrah and Alexia in the series. Netflix canceled the second season of the show earlier this year.
