Mauricio Umansky sued for allegedly receiving $3.5M in fraudulent pandemic diversion loans

Mauricio Umansky is being sued for allegedly acquiring greater than $3.5 million in fraudulent pandemic diversion loans.

According to InTouch, Realtor LLC claimed in its July 2023 criticism that Umansky, 54, and his trade spouse, William “Billy” Rose, by means of their luxurious actual property company, The Company, carried out for and gained two Payroll Coverage Program (PPP) and CARES Work loans totaling $3,521,153.

The techniques have been created all over the COVID-19 pandemic to assistance stop the termination of workers by means of offering loans to companies that have been not able to pay their employees.

Mauricio Umansky is being sued for allegedly acquiring greater than $3.5 million in fraudulent pandemic diversion loans. Bravo

Realtor LLC claimed in its criticism that Umansky and his trade spouse, William “Billy” Rose, by means of their luxurious actual property company, The Company, carried out for and gained two Payroll Coverage Program (PPP) and CARES Work loans totaling $3,521,153. SplashNews.com

Realtor LLC alleged in its submitting that The Company — which was once showcased on the recently canceled Netflix reality show “Buying Beverly Hills” — was once some of the many “large, profitable” firms that bought their pandemic loans by means of “misrepresenting their financial situations, claiming their businesses were eligible when they were not, or … misrepresenting how the funds would be used.”

The lawsuit alleged that Umansky and Rose “falsely certified that ‘current economic uncertainty makes this loan request necessary to support the ongoing operations’” of The Company.

“In addition, the amounts they applied for and received exceeded the loan limit of 2.5 monthly salary with a cap of $100,000 annual salary per employee,” the criticism claimed, including that the lads “later applied for and received full loan forgiveness, knowing they were ineligible for the loans in the first place.”

The Company was once showcased at the lately canceled Netflix truth display “Buying Beverly Hills.” COURTESY OF NETFLIX

The techniques have been created all over the COVID-19 pandemic to assistance stop the termination of workers by means of offering loans to companies that have been not able to pay their employees. GC Pictures

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The submitting argued that The Company’s income “would have been minimally impacted, if at all, because their revenue was based on a percentage of real estate transactions, typically between millionaires and billionaires, not consumers who were unable to buy goods or dine out because of the COVID-19 restrictions.”

Actually, the swimsuit claimed that the company’s “business grew massively” all over the pandemic, because it had $6 billion in gross sales quantity in 2019, which rose to $6.5 billion in 2020 and “ballooned to $11.2 billion in 2021.”

Realtor LLC argued in its criticism that the allegedly fraudulently gained loans “only bolstered defendants’ profits.”

The submitting alleged that Umansky and Rose “falsely certified that ‘current economic uncertainty makes this loan request necessary to support the ongoing operations’” of The Company. mumansky18/Instagram

The lawsuit was once filed in July 2023, the similar date Kyle Richards and Umansky introduced their judicial separation. Getty Pictures for Elton John AIDS Understructure

A rep for The Company denied the allegations within the swimsuit, telling Web page Six, “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.”

The rep went on to mention that “The Agency has always operated with the highest level of integrity in all aspects of our business” and insisted the corporate “faced significant challenges during the COVID-19 pandemic, including layoffs and cutbacks.”

Reps for Umansky — the estranged husband of “Real Housewives of Beverly Hills” star Kyle Richards — didn’t in an instant reply to Web page Six’s demands for remark.