Kyle Richards’ husband has been sued for intentional fraud over an alleged shady sale of a multi-million dollar mansion, Spiel News..com can report.
According to a shocking lawsuit obtained by Radar, a company named Sweetwater Malibu, LLC hired Mauricio Umansky and his brokerage firm known as The Agency in 2014. Sweetwater claimed Umansky and his company was responsible for helping to sell a multi-million dollar Malibu estate – which they alleged failed miserably. The Blast was the first to report the news.
Sweetwater filed the lawsuit on March 13, claiming that Umansky and his brokerage firm are guilty of breach of settlement, breach of fiduciary duties, statutory violations, breach of listing agreement, intentional fraud, negligence and negligent misrepresentation.
Sweetwater claimed that Richards’ husband and his team secretly worked with a client named Mauricio Oberfeld, who ultimately purchased the property for $32 million.
According to Sweetwater, Umansky’s company failed to disclose “all facts” of the sale of the property. Instead the angry business is accusing the reality star husband of violating “virtually every one of these duties, by engaging in blatant acts of self-dealing, earning secret profits, and both failing to disclose and outright misrepresenting material facts.”
Sweetwater claimed Umansky intentionally saved Oberfeld money and risked Sweetwater from making a better profit on the home.
“Defendants pressured Sweetwater to waive a required $1 million deposit from Oberfeld, thereby allowing him to tie up this valuable property for no consideration,” the documents stated.
The lawsuit continued: “Defendants also pressured Sweetwater to repeatedly extend the escrow as they looked for investors and buyers for Oberfeld, and to agree to a repair credit of $ million, while insisting that the market was softening and no other buyer could be found.”
Additionally, Sweetwater claimed that Oberfeld purchased the property “well below its potential price” at less than $32 million and then sold it a year later for a whopping $70 million!
Sweetwater claimed Umansky’s company and Oberfeld received “massive profits” as a result .
Umansky’s legal opponents are demanding the case be heard by a jury.
In September 2018, Umansky tried to escape the legal matter but a judge green-lighted the case to move forward.
What do you think of Richards’ husband’s shocking lawsuit? Sound off in the comments!
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