What Are The Details Of The Lawsuit Against Mauricio Umansky
The mansion in the suit belonged to the US government. The government seized it from the son of the Equatorial Guinea president, Teodoro Nguema Obiang Mangue. He had used funds allegedly stolen from his country to purchase the home. Umansky sold the home to a man for thirty two million named Mauricio Oberfeld. The realtor never disclosed he was an investor with the buyer. His plans seemed to be to get the property to sell for a higher rate.
The seller of the house is suing for this and for not telling him he received much higher side-offers. Once he sold the home himself a year later, however, it went for sixty nine million. This meant he made a profit of over thirty seven million. The company the previous owner runs also sued Umansky because he didn’t follow through with his duties as a realtor. The Sweetwater Malibu LLC is accusing him of fraud and, “blatant acts of self-dealing, earning secret profits, and both failing to disclose and outright misrepresenting material facts.” According to Reality Tea, Mauricio Umansky denies all of these allegations.
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