Per the lawsuit, which was reportedly filed in July 2023 but only unsealed just recently, Umansky and Rose allegedly applied for and got two Payroll Protection Program (PPP) and CARES Act loans worth $3,521,153 in total. The packages were intended to prevent termination of employees by providing loans to primarily small businesses that were unable to pay them during the COVID-19 pandemic.
However, the suit argues that “many of the large, profitable businesses obtained their loans by misrepresenting their financial situations, claiming their businesses were eligible when they were not, or by misrepresenting how the funds would be used,” and 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.”
The complaint, which Umansky and The Agency reportedly deny, also reads that “the Agency’s business grew massively during the COVID-19 pandemic.”
According to the lawsuit, The Agency applied for a $2.3 million PPP loan during the program’s first round and a $1.1 million loan during the second round, both of which were approved. However, the court docs claim that “the PPP Loans were not necessary to support Defendants’ ongoing operations and pay their employees’ salaries, nor were they used for such purposes,” and instead only “bolstered” The Agency’s profits.
Photo: COURTESY OF NETFLIX
In 2019, the firm had $6 billion in sales volume, which grew to $6.5 billion the following year and “ballooned to $11.2 billion in 2021,” the lawsuit alleges.
A representative for The Agency issued a statement to both InTouch and Page Six , saying that they “are unable to comment on ongoing litigation,” but emphasized 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,” they 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.”
Per Bravo’s official website, Richards teased the status of her relationship with her ex Umansky — who she separated from in July 2023 — during a livestream on Tuesday (Aug. 27), where she shared that they “get along very well.”
“There’s no arguing or anything like that,” she added. “There never was.”
For more entertainment news and streaming recommendations, visit decider.com
Get updates delivered to you daily. Free and customizable.
It’s essential to note our commitment to transparency:
Our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. As a platform hosting over 100,000 pieces of content published daily, we cannot pre-vet content, but we strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation.
Most Popular
Comments / 0