Monday, September 16, 2019

Kyle Richards’ Husband Mauricio Umansky Slapped With Another Lawsuit Over Real Estate Deal!

Kyle Richards husband Mauricio Umansky is being accused of fraud in a new lawsuit over real estate deal. Back in 2016, the Real Housewives of Beverly Hills husband was selling a high end property on the water in Malibu, California, according to court documents obtained by The Blast.

The home was owned by the son of the President of Equatorial Guinea. Apparently, The United States Government had seized the home as an asset belonging to the family after a long criminal investigation.

As a part of a settlement, the son Teodoro Nguema Obiang Mangue, agreed to sell the beachfront property and fork over $10 million of the proceeds to a charity benefiting the people of his home country.

Richards husband put the house on the market for $32 million.

A potential buyer, Sam Hakim, filed the new lawsuit claiming Mauricio chose the price knowing, "full well it was far below the property's true market value."

He claims in the suit, he did this so so he could secretly buy it himself and sell it at a profit at a later date. Mauricio eventually flipped the property and sold it for almost $70 million, at a huge profit, reports the outlet.

According to Hakim via The Blast, he approached Umanksy to make an offer on the house for $40 million, but says he was told "not to put it in writing."

He claims he later learned the only reason he was advised this by Umansky himself was so he could buy the house for himself at the lower price.

Hakim says the "egregious breaches of duty and other despicable conduct" and lack of transparency cost him the profits that would have been generated if he would gotten the winning bid, a profit of $35 Million dollars. He says the lawsuit is the recoup the amount to seek regress from Umanksy's "shocking misconduct."

He is suing for no less than the $35 Million, according to The Blast.

Photo Credit: Bravo

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