In his legal documents, the record executive accuses his ex-wife and Tim Leissner of conspiring to make a fraudulent transfer of his nearly 4 million shares of energy drink company Celsius to pay for his bail.
- May 21, 2021
AceShowbiz - Russell Simmons has taken legal action against Kimora Lee Simmons and her current husband. Accusing her ex-wife and Tim Leissner of stealing his stocks to pay Tim's bail fees, the record executive decided to sue them.
In his legal documents, the 63-year-old alleged that Kimora and Tim conspired to make a fraudulent transfer of his nearly 4 million shares of energy drink company Celsius to pay for Tim's legal fees. In the complaint, he also stated that he had tried to solve the issues amicably.
"Throughout my entire decades-long partnership with you I've done everything and anything to protect and promote our family," he reportedly wrote. "I have never said no to any request and have always gone against my own council to offer up much more than any judge would ever require of me in order to keep the peace."
"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," the Def Jam co-founder added. "This, by the way, having been done under an illegal transfer of my funds that I had no knowledge of and would have never agreed to."
The bail money in question totaled nearly $44 million, which Tim agreed to forfeit to avoid jail time over his crime. He previously pleaded guilty to criminal conspiracy to commit money laundering for stealing billions from Malaysian wealth fund 1MDB.
Kimora herself has reacted to Russell's lawsuit. Her legal counsel told Entertainment Tonight, "Kimora and her children are shocked by the extortive harassment coming from her ex-husband, Russell Simmons, who has decided to sue her for shares and dividends of Celsius stock in which Kimora and Tim Leissner invested millions of dollars. This is an ill-advised attempt by Russell to use the legal system to access funds he is in no way entitled to, and which his own legal team confirms Russell did not pay for."
"Russell's continued aggressive behavior not only blatantly distorts the facts, but is simply a desperate PR ploy ignoring the years of mental and emotional anguish, gas lighting, and ongoing harassment he has inflicted on Kimora," the statement continued. "Russell will be held accountable for his serial abuse and we will confront his baseless claims that he is warranted Celsius stock dividends despite his self-admitted zero contribution."
"This extortion attempt is especially egregious given that Russell remains contractually in debt to Kimora for millions of dollars in unpaid business loans," the message further read. "Our team is actively working to put a firm end to his harassment, which continues despite Russell having fled the country - he will face his own reckoning in the U.S. court."
