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Thursday, 20 May 2021

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UPDATE - Hip hop mogul, Russell Simmons suing ex-wife, Kimora Lee, in money laundering case

 


Hip Hop mogul, Russell Simmons, is suing his ex-wife Kimora Lee

Simmons and her current husband, Tim Leissner.

 

According to The Blast, Russell Simmons is suing them for using his shares of his Celsius Energy Drink company to pay for attorney fees for Leissner.

 

The Def Jam pioneer claims that his shares are being used as collateral to pay a bond in connection with criminal charges filed against Kimora’s new husband by federal authorities.

 

In the suit filed by Russell Simmons, he claims that he, Kimora and her husband Tim invested millions of dollars into Celsius Energy Drink, but allege that the Kimora and her new beau "conspired with each other, aided and abetted each other and together engaged in fraud by causing an unlawful conversion and fraudulent transfer" of the Celsius shares to themselves without his knowledge or consent.

 

Russell says that he sent a letter to his ex-wife on May 5, pleading with her to do the right thing in order to avoid a lawsuit.

 

In the letter, he told Kimora that he wanted "to get the important family matter of the Celsius shares to a close so that we can put it behind us and carry on as the loving united front we have always been.

 

Russell Simmons is asking a judge for damages against Kimora and Leissner and believes he should be awarded restitution for interest and equal value for the ill-gotten shares.

 

Kimora’s husband, who is a former Southeast Asia chairman for Goldman Sachs, pleads guilty to criminal conspiracy to violate the Foreign Corrupt Practices Act and conspiracy to commit money laundering in November 2018

 

Russell Simmons claims he knew Leissner would need millions of dollars, $44 million according to his lawsuit, to stay out of jail which prompted the illegal transfer of the shares.

 

Simmons closed his letter to his ex-wife, saying, "I am shocked and saddened to see how your side has behaved in response to my repeated attempts to get an agreement from you to rightfully and legally reaffirm my 50% of the Celsius shares...which have been locked up with the government after being used for your husband’s bail money."

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