Star of Real Housewives of Beverly Hills Kyle Richards and husband Mauricio Unmasky along with his real estate company have reportedly come to terms and settled the lawsuit against him. The lawsuit accused Unmasky of fraud.
Unmasky and his real estate company, The Agency, were reportedly able to come to terms of a deal with Sweetwater Malibu LLC that centered on the sale of a $32 million mansion.
Richards is one of the stars of RHOBH, which premieres tonight at 8 p.m./7 p.m. central on Bravo. According to tonight’s episode synopsis, “Kyle’s new clothing line brings the women of Beverly Hills together for New York Fashion Week, where Dorit quickly realizes Kyle’s lack of experience in the fashion world could turn into a runway disaster.”
The Lawsuit Centered Around a Malibu Mansion
The lawsuit was filed after Unmasky and The Agency arranged the sale of a mansion in Malibu which was sold for $32 million. The mansion had been seized by the United States government from Teodoro Nguema Obiang Mangue. Mangue was accused of using funds stolen from his home country Equatorial Guinea where his father is the president.
Then, Unmasky sold that property to a man named Maurico Oberfield for $32.5 million. That sale was approved by the United States Government, but the seller later claimed that Unmasky and his company didn’t inform him that they had received much higher offers.
The plaintiff also alleged that Unmasky did not disclose that he had partnered with the buyer to purchase the property, and one year after making the purchase, they sold the home for $69.9 million. That meant Unmasky and the partner had made a $37 million profit on the home.
The Case Was Set to Be Tried in March 2020
According to court papers retrieved by The Blast, the “Defendants violated virtually every one of these duties, by engaging in blatant acts of self-dealing, earning secret profits, and both failing to disclose and outright misrepresenting material facts.”
At the time, Unmasky and his company denied the allegations. They said that the plaintiff was trying to regain control of money that he had forfeited to the United States.
Both parties asked the court to set an earlier date for the trial rather than waiting until March 31 in hopes that they would be able to avoid going to trial with their finalized settlement. They said in the documents that they “are in agreement on the principal terms of a settlement that would resolve the case” and that they’d met with a private judge to participate in mediation.
Real Housewives of Beverly Hills airs at 8 p.m./7 p.m. central on Bravo. The season premiere is tonight, April 15, 2020.