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Kyle Richards' Husband Mauricio Umansky Slapped With Lawsuit Over Real Estate Deal


Added 09-15-19 10:21:01am EST - “Kyle Richards' husband Mauricio Umansky is in another real estate legal battle after settling a previous one, as The Blast has reported. The Real” - Radaronline.com

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Posted By TheNewsCommenter: From Radaronline.com: “Kyle Richards' Husband Mauricio Umansky Slapped With Lawsuit Over Real Estate Deal | Radar Online”. Below is an excerpt from the article.

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Kyle Richards’ husband Mauricio Umansky is in another real estate legal battle after settling a previous one, as The Blast has reported. The Real Housewives of Beverly Hills star’s realtor spouse has just been sued, being accused of fraudulently double-dipping on a deal, court papers say.

According to the docs, in 2016, Mauricio was selling a luxurious home in Malibu owned by Teodoro Nguema Obiang Mangue, the son of the President of Equatorial Guinea. But after a criminal investigation, the United States government had seized the property. As a part of a settlement, Mangue agreed to sell the beachfront property and give more than $10 million from the sale to a charity benefiting the people of his home country.

Umansky put the house on the market for $32 million, but in the new suit, potential buyer Sam Hakim has alleged Mauricio chose the price knowing, “full well it was far below the property’s true market value.” Hakim has contended in legal papers that Mauricio did that so the he could secretly buy the home himself and sell it at a profit at a later date.

Mauricio eventually flipped the property and sold it for almost $70 million, the court papers indicate. Hakim has claimed he tried to make a $40 million offer on the house but Mauricio told him “not to put it in writing.” Hakim is charging Mauricio with “shocking misconduct” and “egregious breaches of duty and other despicable conduct” which cost him the profits that he would have received for the winning bid on the estate. The man is suing for the $35 million he believes he would have received in profit.

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