We are happy to report that RHOBH star Kyle Richards’ husband, Mauricio Umanksy, has reached a settlement for a $32 million lawsuit over a home. The lawsuit was against Umansky and his company, The Agency.
After going through several months of this brutal lawsuit with his insurance company, Western World Insurance, Umansky filed documents confirming he and the organization had reached an agreement that will put an end to their case against him, as well as his counter lawsuit against them.
The Blast was the first to report that Mauricio and Western World Insurance agreed to throw out their claims against one another and pay their own legal bills.
The suit started months ago when Western World Insurance filed a lawsuit against Mauricio, claiming they shouldnâ€™t have to pay the legal bills he accrued during a dispute with a seller of a home in Malibu, California, who claimed Mauricio breached their contract.
After Western World Insurance sued Mauricio, Umansky filed a counter-suit against the company, claiming the company sided with the seller and denying claims of wrongdoing and breach of contract. Mauricio also demanded the lawsuit against him be put on hold until after he and the seller of the Malibu home were able to settle their dispute.
According to the report, the Malibu home at the center of the lawsuit between Mauricio and the insurance company was seized by the United States government after Teodoro Nguema Obiang Mangue allegedly used stolen funds from Equatorial Guinea, where Teodoroâ€™s father is president, to purchase the property.
Mauricio first sold the Malibu home to Mauricio Oberfeld for $32.5 million and the sale was approved by the United States Government. However, according to the seller, Mauricio never told him there had been higher offers on the side and also didnâ€™t explain that he had partnered with the buyer to purchase the home.
Once the home sold for a second time, Maurico and his partner got a whopping $69.9 million for the property, a profit of $37 million. In turn, the seller demanded he be paid $8 million for the deal, with $5 million coming from Mauricio himself and an additional $3 million from Western World.
In the case against Mauricio, Western World Insurance said they should not have to spend money defending Mauricio and The Agency due to how he handed the deal.
Mauricio denied the allegations against him and said the deal between himself and the seller was subject to terms of an agreement they made with the United States Government.