Russell Simmons is suing ex-wife Kimora Lee Simmons and her husband, Tim Leissner, for allegedly using the Hip Hop mogul's Celsius Energy Drink shares to pay Leissner's attorney fees.
The lawsuit claims Kimora and her husband "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 Russell's knowledge or consent. Kimora and Leissner reportedly invested millions into the energy drink but using Russell's shares as collateral to pay a bond in Leissner's federal case.
The Def Jam co-founder claims he sent a letter to Kimora earlier this month to resolve the issue without taking the matter the court.
"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," Simmons wrote.
Tim Leissner is a banker and ex-Goldman Sachs partner who pleaded guilty to criminal conspiracy to violate the Foreign Corrupt Practices Act and conspiracy to commit money laundering in November 2018. As part of his guilty plea, Leissner was ordered to pay $43.7 million, which Russell claims caused the transfer of shares.
Russell Simmons is seeking damages against Kimora and Leissner, as well as restitution for interest and equal value for the shares.
Source: The Blast
