Mauricio Umansky Sued for Allegedly Securing $3.5 Million in Fraudulent COVID-19 Relief Loans

Mauricio Umansky is facing a lawsuit after reportedly obtaining over $3.5 million in fake epidemic relief loans.

According to InTouch, Realtor LLC filed a lawsuit in July 2023 alleging Mauricio Umansky, 54, and his business partner, William “Billy” Rose, of obtaining two Payroll Protection Program (PPP) and CARES Act loans totalling $3,521,153 through The Agency, a luxury real estate firm.

During the COVID-19 pandemic, the PPP and CARES Acts were enacted to help businesses retain employees by providing loans to those who were unable to pay their workers.

Realtor LLC’s lawsuit alleges that The Agency, a company featured on the Netflix reality show “Buying Beverly Hills,” obtained pandemic loans by misrepresenting their financial situation, claiming eligibility when it was not, and misrepresenting how the funds would be used.

According to the lawsuit, Mauricio Umansky and Rose “falsely certified that ‘current economic uncertainty makes this loan request necessary to support the ongoing operations'” Of The Agency.

PPP and CARES Act Loan Forgiveness Under Scrutiny in Mauricio Umansky Lawsuit

The complaint also claimed that the amounts they applied for and received exceeded the loan limit of 2.5 times the monthly income, with a maximum annual compensation of $100,000 per employee. It additionally said that the guys “later applied for and received full loan forgiveness, knowing they were ineligible for the loans in the first place.”

The complaint claimed that the Agency’s profits “would have been minimally impacted, if at all, because their revenue was based on a percentage of real estate transactions, typically between millionaires and billionaires, not consumers who were unable to buy goods or dine out because of the COVID-19 restrictions.”