This B+ list reality star from multiple shows on the same network loves to show off his very expensive lifestyle and his more famous reality wife is the same way.
He isn’t showing it, but the B+ lister might have to sell off a significant part of his company to stay afloat because of some very shady deals he has pulled off. The layer of the stinking onion are just now coming to light and more customers are wondering if he screwed them over too.
Real Housewives of Beverly Hills
Agency’s Mauricio Umansky hit with lawsuit alleging impropriety in $70M home flip
It’s a story of corruption, Ferraris, Michael Jackson memorabilia and now, alleged real estate agent impropriety.
An insurance company claims in a lawsuit filed in federal court that Agency co-founder Mauricio Umansky misled a client when he conspired with another investor to underpay for a Malibu mansion and then flip it for $70 million. That’s more than double what they paid for it a year earlier.
Western World Insurance, Umansky’s insurance company, filed the suit against Umansky on June 25, seeking relief from having to pay any damages to the seller.
The story dates to 2011, when the U.S. government accused Teodoro Nguema Obiang, the son of Equatorial Guinea president Teodoro Obiang, of using stolen funds to purchase an assortment of lavish assets. The purchases included the 15,000-square-foot mansion on Sweetwater Road in Malibu, as well as a Michael Jackson-signed jacket and several Ferraris. – Source