Real Housewives of Beverly Hills star Kyle Richards’ husband, Mauricio Umansky, has been named as a defendant in a suit against him and his company, The Agency, over the sale of a $32 million Malibu mansion.
According to court documents obtained by Us Weekly and filed on Wednesday, March 13, the real estate broker, 48, is facing allegations of breach of settlement, listing agreement and fiduciary duties, statutory violations, intentional fraud, negligent misrepresentation and negligence by Sweetwater Malibu, LLC.
The company, which hired the reality star to sell a Malibu property located on Mesa Road, is accusing Umansky of “self-dealing, earning secret profits” and “failing to disclose and outright misrepresenting material facts.” The allegations come after claims that he advised Sweetwater to accept an offer from a buyer named Mauricio Oberfeld, who did not have the immediate financial assets necessary to complete the sale.
According to Sweetwater, Richards’ husband was working with Oberfeld to obtain investors and only disclosed that he had accepted an investment with the buyer ahead of the sale once the offer had been accepted.
In addition, Sweetwater alleges that Umansky received multiple bids above the $33.5 million offer that was accepted from Oberfeld which were not presented to the company.
The property was sold for $69.9 million at a $37 million profit the following year.
Sweetwater is seeking funds for “damages, disgorgement of profits,” the cost of the suit and any other relief deemed appropriate.
The Blast reports that a related suit Opens a New Window. brought against Umansky by his insurance company, Western World, who was seeking to be relieved of legal bills in the businessman’s dispute against Sweetwater, was dismissed in October.
He filed a countersuit Opens a New Window. against Western World in August.
Source: Read Full Article