"Real Housewives of Beverly Hills" star Kyle Richards' husband, Mauricio Umansky, is fighting back against allegations he screwed over a client on the sale of a $32 million dollar mansion and has filed a lawsuit of his own.
According to court documents obtained by The Blast, Umansky and his real estate company, The Agency, sued the insurance company Western World Insurance Company for failing to defend him in a lawsuit over a Malibu mansion that Umansky was hired to sell.
The home had been seized by the United States government from Teodoro Nguema Obiang Mangue, who allegedly used funds stolen from his home country Equatorial Guinea (Mangue is the son of the president).
Umansky sold the home to a man named Mauricio Oberfeld for $32.5 million. The sale was approved by the United States Government. However, the seller accused Umansky of failing to inform him that prior to the sale, Umansky received much higher side-offers. Umansky also allegedly never disclosed he had partnered with the buyer to purchase the property.
Umansky sold the home for $69.9 million a year later, at a profit of $37 million.
The seller recently demanded $8 million back from the deal, asking for $5 million from Umansky and the remaining $3 million come from his insurance company, Western World.
The insurance company then sued the reality star, arguing they should not have to pay for the legal bills in the battle with the seller. They claim due to Umansky’s actions on the sale they shouldn’t have to continue spending substantial sums to defend Umansky and The Agency.
In his newly filed counter-suit against Western World, Umansky accuses the insurer of taking the side of the seller in the dispute over the sale. He denies all allegations of wrongdoing and says the entire transaction was subject to terms of a settlement agreement between the seller and the United States Government.
He says every aspect of the deal was reviewed and approved by the Department of Justice and claims to have done exactly what he was retained to do.
Umansky sold the home with virtually no publicity, under a strict deadline and at a price above the appraised value. He says the seller didn’t make claims until a year after the sale.
He accuses Western World of choosing not to fulfill their obligations and instead suing him. In doing so, he claims they made a private dispute public and shared confidential documents Umansky had provided to them.
Umansky says he has been forced to defend himself and The Agency on two fronts, against the seller and separately against his own insurer.
He is asking the court to order Western World to pay for his legal bills, along with compensatory and punitive damages.
The case is ongoing.