Mauricio Umansky Sued for Fraudulent PPP Loans

Mauricio Umansky, a prominent real estate mogul and former husband of 'Real Housewives' star Kyle Richards, is facing a lawsuit for allegedly fraudulently obtaining over $3.5 million in pandemic relief loans through his firm, The Agency. Filed by Realtor LLC, the complaint asserts that Umansky and his partner, William 'Billy' Rose, misrepresented their financial status to qualify for Payroll Protection Program (PPP) and CARES Act loans meant to support struggling businesses. The lawsuit claims that The Agency, which thrived during the pandemic, falsely certified that they needed the loans to maintain operations, despite their profits increasing significantly from $6 billion in 2019 to $11.2 billion in 2021. The filing also states that the loan amounts exceeded legal limits and alleges that the executives received full loan forgiveness knowing they were ineligible. Umansky has denied the allegations, which have drawn attention following the cancellation of his Netflix show 'Buying Beverly Hills.' Realtor LLC seeks damages equivalent to three times the amount they claim was wrongfully obtained.