Wednesday, May 19, 2021

Russell Simmons Suing Ex-Wife Kimora Lee

Three years ago Kimora Lee Simmons husband, investment banker Tim Leissner, pled guilty to violating the Foreign Corrupt Practices Act and was ordered to forfeit $43.7 million for his part in a Goldman Sachs Malaysian bond scheme [click here if you missed that]. 

Now Kimora's ex husband, Russell Simmons, is suing her for using his money to pay Tim's legal fees...

Russell Simmons is suing his ex-wife, Kimora Lee Simmons, and her new husband, Tim Leissner, for allegedly transferring and using his shares of an energy drink company to pay legal fees for Leissner. He claims his shares of Celsius, the energy drink, are being used as collateral to pay a bond in connection with criminal charges filed against Kimora's new husband by the feds.
In court documents obtained by The Blast, the entertainment mogul claims he, his ex-wife, and her husband invested tens of millions of dollars in the Celsius energy drink company. Kimora and Leissner allegedly "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 without Russell's consent or knowledge. He claims that Kimora and her new husband transferred his shares to themselves. Russell claims his new accountants discovered a "substantial unexplained change" in his interests in Celsius.
Russell is asking a judge for damages against Kimora and Leissner and believes he should be awarded restitution for interest and equal value for the wrongfully obtained shares. Interestingly, Russell says he sent his ex-wife a letter on May 5, 2021, pleading with her to do the right thing and avoid a lawsuit. He wrote to her, "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."