Will a lawsuit over a Malibu mansion derail a top L.A. real estate broker? This saga of power, corruption and allegations of deception has played out from the courts of L.A. and the halls of Congress to as far away as the shores of Central Africa.
It didn’t go unnoticed by Nguema and his attorneys.
The Southern California high-end real estate market is a clubby affair, with many of the same investors and brokers working with one another on different deals. Hakim, a Beverly Hills resident, was counting on that fact to give him an edge in landing the Malibu estate. During a later tour of the property, Hakim and his broker told Umansky he would pay $40 million, according to the suit. But Hakim says Umansky told them that although he would relay the offer to Nguema, Hakim shouldn’t put it in writing since the owner was not profiting from the sale and was not motivated by price.
Although not the winner, when Hakim heard Oberfeld was the buyer, the investor thought he could strike a deal. It turned out, he said, the two had gone to high school together in Beverly Hills and Oberfeld’s sister was a close friend. It’s a case that has been bitterly fought given the dollars and reputations at stake, with Umansky denying that there was ever a higher verbal offer for him to pass on and portraying the whole thing as belated bitterness over a missed opportunity.
Timing is a key issue. Umansky told Nguema and the Department of Justice in June 2016 — weeks before the sale closed — that he had only recently been invited to participate in the buyers’ group.
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