All We Know About Mauricio Umansky’s $3.5 Million Fraud Trial

Mauricio Umansky is being summoned to court for allegedly obtaining the sum of $3.5 million in the name of pandemic relief loans.

Per the court documents obtained by Us Weekly on Thursday, Aug. 29, Relator LLC has filed a lawsuit against Umansky, 54, and his real estate company, The Agency, accusing them of applying for and receiving two Payroll Protection Program (PPP) and CARES Act loans in the total amount of $3,521,153.00.

Mauricio Umansky Accused of Acquiring Millions In Relief Loans Through Fraudulent Means

The program was created during the pandemic in an effort to keep companies from terminating employees as a result of low income. It achieved this by providing businesses unable to pay their employees with a loan.

However, the documents are alleging that Umansky’s company took advantage of this by falsifying their records to make it seem as if they needed help paying employees. Per the documents, the company “applied for and received exceeded the loan limit of 2.5 monthly salary with a cap of $100,000 annual salary per employee.”

To strengthen their point, Realtor LLC argued that Umansky’s company was likely to be very minimally impacted by the pandemic lockdowns. This is due to the fact that their real estate business clients are “millionaires and billionaires” and not consumers who were unable to buy goods because of the restrictions from the shut-down.

Additionally, they noted that the Agency’s business grew massively during the pandemic period by going from $6.5 billion in 2020 to $11.2 billion in 2021.

“With this knowledge, Defendants would have retained significant reserves to continue to pay their employees. To do otherwise would have been grossly irresponsible, especially for experts in the real estate markets,” the docs read.

“As alleged above, Defendants expressly did not hold themselves out as grossly irresponsible and their experience and success confirms they were not.” In damages, the lawsuit is asking Umansky and his company to pay three times the amount of the loan.

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Mauricio Umansky’s Team Responds To Realtor LLC’s Lawsuit Against His Company

Shortly after In Touch broke the news, Unmansky and his team denied the allegations in a statement.

“While we are unable to comment on ongoing litigation, we want to emphasize that The Agency has always operated with the highest level of integrity in all aspects of our business. Like many companies, we faced significant challenges during the COVID-19 pandemic, including layoffs and cutbacks,” the statement read.

It continued: “Our focus has always been, and especially during that challenging period, on delivering exceptional service to our customers and supporting our employees. The claims in this case do not reflect the reality of our operations and financial situation at the time we filed for our PPP loans, and we intend to vigorously defend against these meritless claims.”

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