As someone who has been following Mauricio Umansky for years, his life journey from being a key player in the world of real estate to a central figure in a high-profile scandal is nothing short of intriguing. It’s hard not to feel a twinge of disappointment when I see the headlines about his alleged misuse of funds intended for those struggling during the pandemic, especially considering the impressive success he has enjoyed with The Agency.
Mauricio Umansky faces a controversy over claims that he fraudulently borrowed $3.5 million, which was supposed to help people impacted by COVID-19. He is recognized for his long-term marriage with Kyle Richards from the Real Housewives of Beverly Hills, which concluded in separation in 2023.
Recently obtained court documents by Us Weekly reveal a lawsuit against Umansky, aged 54, and his real estate firm, The Agency, LLC. The allegations state that Umansky applied for and received two loans amounting to $3,521,153 under the Payroll Protection Program (PPP) and the CARES Act. These loans were designed to assist businesses struggling with payroll due to the COVID-19 pandemic, but the claim is that Umansky’s company could still afford its employees’ wages.
As a devoted follower, based on what In Touch reported, it’s been alleged that the certification issued by Umansky’s company was false. A key condition in this case stated that any loan approval under their program should not surpass 2.5 months of the business’s payroll, with an annual limit of $100,000 per employee.
Realtor LLC points out that The Agency’s operations were not anticipated to be heavily impacted by the pandemic since a large portion of their high-profit clients consisted of affluent individuals like millionaires and billionaires buying property, rather than typical consumers who might have been affected financially due to the pandemic.
It’s said that the Agency thrived during the pandemic, generating $6.5 billion in 2020 and $11.2 billion in 2021 in revenues. Despite this substantial profit, the lawsuit points out that the company could have paid its workers and avoided bankruptcy without borrowing money. Instead, they chose to take out loans. The lawsuit aims to recover three times the amount it claims was improperly used.
A spokesperson from The Agency told Us Weekly, “Our priority has consistently been ensuring top-notch service for our customers and employee support, particularly during difficult times. The allegations in this case do not align with how our operations and financial status were at the time we applied for our PPP loans. We are determined to strongly contest these unfounded claims.”
Mauricio Umansky has three daughters: Alexia (28), Sophia (24), and Portia (16). These girls are shared with Kyle Richards, a cast member on The Real Housewives of Beverly Hills. Additionally, he is the stepfather to Farrah, Kyle’s daughter who is 35 years old. Umansky was prominently showcased in the Netflix series Buying Beverly Hills, which documented his professional life at The Agency. Regrettably, following two seasons, that series was discontinued earlier this year.
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2024-08-30 14:38