Mauricio Umansky sued for allegedly receiving $3.5M in false pandemic relief loans
Mauricio Umansky is being sued for allegedly acquiring more than $3.5 million in false pandemic relief loans.
According to InTouch, Realtor LLC claimed in its July 2023 criticism that Umansky, 54, and his enterprise accomplice, William “Billy” Rose, by design of their luxurious precise estate firm, The Company, utilized for and got two Payroll Protection Program (PPP) and CARES Act loans totaling $3,521,153.
The programs had been created all the design in which via the COVID-19 pandemic to aid pause the termination of employees by offering loans to businesses that had been unable to pay their employees.
Realtor LLC alleged in its submitting that The Company — which used to be showcased on the no longer too long within the past canceled Netflix truth level to “Shopping for Beverly Hills” — used to be amongst the thoroughly different “tidy, winning” corporations that bought their pandemic loans by “misrepresenting their monetary conditions, claiming their businesses had been eligible when they weren’t, or … misrepresenting how the funds would be aged.”
The lawsuit alleged that Umansky and Rose “falsely licensed that ‘most up-to-date financial uncertainty makes this loan quiz mandatory to help the continuing operations’” of The Company.
“As nicely as, the quantities they utilized for and got exceeded the loan limit of two.5 month-to-month salary with a cap of $100,000 annual salary per employee,” the criticism claimed, including that the males “later utilized for and got full loan forgiveness, colorful they had been ineligible for the loans within the first build.”
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The submitting argued that The Company’s profits “would had been minimally impacted, if in any admire, on epic of their revenue used to be in accordance with a proportion of precise estate transactions, veritably between millionaires and billionaires, no longer patrons who had been unable to fetch items or dine out on epic of of the COVID-19 restrictions.”
Truly, the swimsuit claimed that the firm’s “enterprise grew massively” all the design in which via 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 got loans “simplest bolstered defendants’ profits.”
A salvage for The Company denied the allegations within the swimsuit, telling Page Six, “The claims on this case pause no longer replicate the truth of our operations and monetary build on the time we filed for our PPP loans, and we intend to vigorously defend against these meritless claims.”
The salvage went on to claim that “The Company has incessantly operated with one of the best diploma of integrity in all aspects of our enterprise” and insisted the firm “faced famous challenges all the design in which via the COVID-19 pandemic, including layoffs and cutbacks.”
Reps for Umansky — the estranged husband of “Unswerving Housewives of Beverly Hills” superstar Kyle Richards — did no longer at as soon as respond to Page Six’s requests for commentary.
