Mauricio Umansky indicted for allegedly obtaining fraudulent PPP loans
Mauricio Umansky.
Vivien Killilea/Getty Images for Tequila Don JulioMauricio Umanski is accused of fraudulently obtaining $3.5 million in emergency relief loans during the pandemic.
This is evident from court documents obtained by We weekly on Thursday, August 29, Realtor LLC alleged in a new lawsuit that Umansky, 54, and his real estate company, The Agency, applied for and received two Payroll Protection Program (PPP) and CARES Act loans totaling $3,521,153.00.
The program was created to help prevent employee layoffs by providing loans to businesses that were unable to pay their employees due to the effects of the COVID-19 pandemic. The lawsuit accused Umansky’s company of “falsely” stating that they needed the loans to pay their employees. The documents stated that the amounts the Agency “applied for and received exceeded the loan limit of 2.5 months salary with a maximum of $100,000 annual salary per employee.”
Realtor LLC claimed that Umansky’s company would have been minimally affected by the pandemic shutdown because their revenue came from real estate transactions “typically between millionaires and billionaires,” and not from consumers who were unable to purchase goods due to the shutdown’s restrictions. The filing claimed that the Agency’s operations “grew tremendously” during the pandemic, earning $6.5 billion in 2020 and $11.2 billion the following year.
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“With this knowledge, defendants would have retained significant reserves to continue paying their employees. To do otherwise would have been completely irresponsible, especially for experts in the real estate markets,” the documents say. “As stated above, Defendants expressly did not portray themselves as grossly irresponsible and their experience and success confirms that this was not the case.”
The lawsuit asked the court that Umansky and his company pay an amount equal to three times the amount of the damage caused.
In touch was the first to break the news. Umansky denied the allegations against him. A representative of the agency addressed the allegations Us.
“While we cannot comment on pending litigation, we would like to emphasize that The Agency has always operated with the highest level of integrity in all aspects of our business. Like many companies, we have faced significant challenges during the COVID-19 pandemic, including layoffs and budget cuts,” the statement said. “Our focus has always been, and especially during this challenging period, on delivering exceptional service to our customers and supporting our employees. The claims in this case do not reflect the reality of our operations and financial situation at the time we applied for our PPP loans, and we intend to vigorously defend against these baseless claims.”
Kyle Richards and Mauricio Umansky were married for more than two decades before shocking fans with their divorce in 2023. Richards was previously married to Guraish Aldjufrie, with whom she shares daughter Farrah, from 1988 to 1992. She met Umansky in 1994, and the couple exchanged vows two years later. Richards was four months old […]
Umansky is best known for his relationship with Real Housewives of Beverly Hills star Kyle Richards. The couple separated in July 2023 after 27 years of marriage. The estranged couple, who have yet to file for divorce, share daughters Alexia, 28, Sophia, 24, and Portia, 16. Umansky is also stepfather to Richards’ daughter Farrah, 35, whom she shares with her ex-husband. Guraish Aldjufrie.
After appearing on RHOBH Umansky got his own Netflix series for a few seasons, Buy Beverly Hillsthat followed his working life at The Agency, which he founded in 2017. In the series, Umanskey works with his daughters Farrah and Alexia. The show was canceled by Netflix earlier this year after season two.
