Friday, August 27, 2021

Kimora Lee Wants Russell Simmons Lawsuit Tossed Out

Earlier this year former music mogul Russell Simmons filed a lawsuit against his ex-wife Kimora Lee Simmons and her current husband Tim Leissner after accusing them of fraudulently liquidating his shares in an energy drink company to pay Leissner's legal bills [click here if you missed that]. 

Kimora wants the case tossed out....

In newly filed documents, Kimora’s lawyer says, “at the time Defendants used the Celsius shares for purposes of the bond in connection with the federal case, Lee understood and believed that Defendants were authorized to use the shares for the bond.”
Kimora says Russell had resigned from the board of Nu Horizons months before she made the transfer. She said he also sold off his interest in the company and other assets to another company called Keyway Pride LTD for $14.25 million.
She also argues the shares have not been sold off. Kimora says they are simply temporarily being held by the government temporarily as collateral for the bond and will be returned. Kimora says all claims of fraud should be immediately dismissed.