Mauricio Umansky is being sued for allegedly obtaining more than $3.5 million in fraudulent pandemic relief loans. According to InTouch , Realtor LLC claimed in its July 2023 complaint that Umansky, 54, and his business partner, William “Billy” Rose, via their luxury real estate firm, The Agency, applied for and received two Payroll Protection Program (PPP) and CARES Act loans totaling $3,521,153.
The programs were created during the COVID-19 pandemic to help prevent the termination of employees by providing loans to businesses that were unable to pay their workers. Realtor LLC alleged in its filing that The Agency — which was showcased on the recently canceled Netflix reality show “Buying Beverly Hills” — was among the many “large, profitable” companies that obtained their pandemic loans by “misrepresenting their financial situations, claiming their businesses were eligible when they were not, or ..
. misrepresenting how the funds would be used.” The lawsuit alleged that Umansky and Rose “falsely certified that ‘current economic uncertainty makes this loan request necessary to support the ongoing operations'” of The Agency.
“In addition, the amounts they applied for and received exceeded the loan limit of 2.5 monthly salary with a cap of $100,000 annual salary per employee,” the complaint claimed, adding that the men “later applied for and received full loan forgiveness, knowing they were ineligible for the loans in the first place.” The fili.