Mauricio Umansky’s $3 Million PPP Loan Fraud Exposed!
Mauricio Umansky’s $3 Million PPP Loan Fraud Exposed!
Mauricio Umansky is facing serious allegations after being accused of fraudulently securing $3.5 million in pandemic relief loans.
According to court documents obtained by In Touch and Us Weekly on Thursday, August 29, a new lawsuit filed by Relator LLC claims that Mauricio Umansky, 54, and his real estate firm, The Agency, applied for and received two substantial loans under the Payroll Protection Program (PPP) and CARES Act, totaling $3,521,153.
These relief programs were designed to help businesses retain employees during the economic downturn caused by the COVID-19 pandemic.
However, the lawsuit alleges that Mauricio’s company falsely certified their need for the loans, exceeding the allowed limit of 2.5 times monthly salary with a cap of $100,000 per employee.
Relator LLC further argues that The Agency’s business model, which primarily involves high-value real estate transactions among wealthy clients, would have been minimally affected by the pandemic.
The lawsuit claims that the company’s revenue soared during this period, growing from $6.5 billion in 2020 to $11.2 billion in 2021.
“With this knowledge, Defendants would have retained significant reserves to continue to pay their employees. To do otherwise would have been grossly irresponsible, especially for experts in the real estate markets,” the court documents state.
“As alleged above, Defendants expressly did not hold themselves out as grossly irresponsible, and their experience and success confirms they were not.”
The lawsuit demands that Mauricio and his company repay triple the damages caused by the alleged misuse of funds.
In Touch was the first to break the news, with Mauricio promptly denying the allegations. A representative for The Agency also responded to the claims in a statement to Us Weekly.
“While we are unable to comment on ongoing litigation, we want to emphasize that The Agency has always operated with the highest level of integrity in all aspects of our business. Like many companies, we faced significant challenges during the COVID-19 pandemic, including layoffs and cutbacks,” the statement reads.
“Our focus has always been, and especially during that challenging period, on delivering exceptional service to our customers and supporting our employees. The claims in this case do not reflect the reality of our operations and financial situation at the time we filed for our PPP loans, and we intend to vigorously defend against these meritless claims.”
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Avigail is an Entertainment blogger at All About The Tea, who specializes in The Real Housewives of Atlanta and The Real Housewives of Potomac. Avigail has a background in marketing. She’s a Brooklynite living in the Bahamas, with a passion for travel, writing, reality TV watching, pop culture and spoken word.