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Kyle Richards' Husband Sued For Fraud Over $32 Million Mansion


The lawsuit from Mauricio Umansky's insurance company over the sale of a $32 million mansion may have been settled last year, however, the house husband has more legal drama coming his way over the controversial sale.

According to court documents obtained by The Blast, the company that owned the million dollar home, Sweetwater Malibu LLC, are suing Mauricio and The Agency for fraud. This is such a confusing story full of legal real estate mumbo jumbo, so let's walk through it slowly.

The mansion in question was originally seized by the US government after it's owner, Teodoro Nguema Obiang Mangue had allegedly used stolen funds from his home country Equatorial Guinea to purchase the estate.

Mauricio's company was enlisted to sell the property and sold the home to a man named Mauricio Oberfeld for $32.5 million which was approved by the US government. Kyle Richards' husband then partnered with the other Mauricio and the two sold the home for $69.9 million a year later, making a profit of $37 million.

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The seller (Sweetwater Malibu LLC) is now alleging Umansky failed to inform them that he received higher offers for the home prior to the sale and didn't tell them he had partnered with the buyer to purchase the home.

So the theory is, he ignored higher offers on the home so he could make his own profit from purchasing it at a lower price and selling it later.

He was also sued by his insurance company, Western World, who I mentioned above in October. The insurance company wanted the judge to order they didn't have to pay for his legal fees regarding a dispute between Mauricio and Sweetwater Malibu LLC over the sale of the $32 million mansion, claiming HE breached their contract. This lawsuit was dismissed.

I couldn't help but wonder, what does Kim Richards think about all of this?

Thoughts? Sound off in the comments!

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