Mauricio Umansky and his real estate company, The Agency, has settled his lawsuit with Sweetwater Malibu LLC, over the sale of a $32 million Malibu mansion.
Both parties reached a mutual agreement in mediation last week.
As reported, Mauricio Umansky was accused of intentionally selling a 15,000-square-foot mansion for millions less than it was worth, in order to later personally profit from the resale. A lawsuit was filed by Sweetwater Malibu LLC, the company owned a Malibu mansion at the center of the lawsuit, according to court documents. Sweetwater Malibu LLC accuses Mauricio and The Agency of violating duties as a real estate broker and fraud.
According to the seller, Mauricio Umansky did not inform Sweetwater Malibu LLC of much higher offers that were made prior to the sale of the mansion. Mauricio also hid the fact that he partnered with the buyer to purchase the property. One year later, Mauricio sold the home for $69.9 million, at a profit of $37 million. He also allegedly never disclosed he had partnered with the buyer to purchase the property.
Mauricio Umansky, 49, still has other lawsuits pending that are related to $32 million Malibu mansion.
Mauricio Umansky was slapped with another lawsuit accusing him of fraud, connected to the sale of a $32 million mansion.
In October, real estate agent Aitan Segal sued Kyle Richards’ husband because he represented a buyer wanting to purchase the $32 million Malibu mansion listed by Mauricio. The buyer made an offer of $40 million to Umansky and Aitan Segal asserts that Mauricio secretly orchestrated a deal to buy the home himself (with investors) and flipped it for a huge profit. Mr. Segal is seeking $4.5 million in damages for the lost commissions in the deal.
As reported, Mauricio Umansky’s real estate firm, The Agency recently experienced a mass exodus with 45 top-ranking executives jumping ship from Kyle Richards’ husband’s company amid the company’s $32 million legal battle. Former and current brokers cite unethical and shady business practices for their departures.
In 2018-2019, numerous top-ranking Agency employees quit and joined competitor, Hilton & Hyland, which is owned by Mauricio Umansky’s brother-in-law and enemy, Rick Hilton.
The Real Housewives of Beverly Hills is currently filming it’s 10th season.