Update: Kimora Lee Simmons’ Legal Team Releases Statement In Wake Of Russell Simmons Alleging She Stole Stock Shares To Pay Current Husband’s Bail In Money Laundering Case

Update: Kimora Lee Simmons’ Legal Team Releases Statement In Wake Of Russell Simmons Alleging She Stole Stock Shares To Pay Current Husband’s Bail In Money Laundering Case

Update #2: Kimora Lee Simmon’s legal counsel has provided theJasmineBRAND with an official statement regarding the legal allegations made by her ex-husband, Russell Simmons.

See their response below:

“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.

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. 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 US court.”

Original Story: Russell Simmons and Kimora Lee Simmons parted ways romantically when they divorced in 2009 – but now their business relationship is hitting a low point.

Russell Simmons has filed a lawsuit against his model ex-wife, who is also the mother of his two daughters, Ming Lee Simmons, 21, and Aoki Lee Simmons, 18.

Russell Simmons is suing Kimora Lee Simmons and her husband Tim Leissner for allegedly taking his shares from an energy drink company, Celsius, to pay Tim Leissner’s legal fees. Specifically, he said the shares are allegedly being used as collateral for a bond related to federal charges against Tim Leissner, according to The Blast. Leissner pleaded guilty to criminal conspiracy to violate the Foreign Corrupt Practices Act and conspiracy to commit money laundering in 2018.

Russell argued that his ex-wife,

 “knew full well that Leissner would need tens of millions of dollars [$44 million] to avoid jail time, stay out on bail, and forfeit monies for victim compensation.”

Russell said Kimora Lee Simmons and Leissner used the shares as collateral and he wants them back.

Russell alleges he and Kimora Lee Simmons invested millions of dollars into the energy drink company years ago. Now, he claims Kimora and her new husband allegedly

 “conspired with each other, aided and abetted each other and together engaged in fraud by causing an unlawful conversion and fraudulent transfer.”

Russell maintains he didn’t know about the alleged transfer, let alone give permission for it.

He said his suspicions were raised when his new accountants came across a “substantial unexplained change” concerning his stake in Celsius.

He’s requesting damages and restitution for interest and equal value of the shares in question. He also said he wrote her a letter on May 5 to address the ordeal, telling 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.”

He also reportedly wrote,

“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.”

What are your thoughts on the lawsuit? Comment and let us know.

Authored by: Char Patterson