Kimora Lee Simmons Wins $100k Legal Fees Payment Against Ex-Husband Russell Simmons In Ongoing Court Battle
Looks like Russell Simmons owes his ex a hefty bag!
According to a report from RadarOnline, the famed businessman has been ordered to pay his ex-wife a little over $100k in legal fees incurred during their ongoing court battle.
Back in May of last year, Russell Simmons, 65, launched a suit against his former love Kimora Lee Simmons, 47. Allegedly, Russell is accusing the mother of his children of fraudulently using their shared stocks to bail her current estranged husband Tim Leissner out of jail. As previously reported, Leissner recently pleaded guilty to stealing hundreds of millions of dollars in a billion-dollar laundering scheme. Though he avoided jail, Leissner was ordered to pay back $44 million of the stolen funds.
While awaiting the trial to start, Kimora reportedly used stock shares from a business she and Leissner jointly own with Russell as collateral. Reportedly, the shared company called Nu Horizons Investment Group owned stock in Celsius energy drinks. Reports state that Russell claims in the legal docs that Kimora used 4 million shares as a security deposit for Leissners’ bail. The doc reportedly reads:
“Knowing full well that [Tim] would need tens of millions of dollars to avoid jail time, stay out on bail and forfeit monies for victim compensation, [Tim and Kimora] engaged in this blatant fraud to achieve that nefarious and unlawful goal,”
However, Kimora rebutted that legally, she was not required to inform Russell about the use of the stocks. The mother of five says that Russell’s resignation from Nu Horizon’s management in 2018 left that requirement null and void. Her attorney’s reportedly stated:
“At the time [Tim & Kimora] used the Celsius shares for purposes of the bond in connection with the federal case, [Kimora] understood and believed that [Tim & Kimora] were authorized to use the shares for the bond.”
Initially, Kimora motioned a judge to drop Russell’s suit against her altogether, vehemently denying the fraud accusations. Though the court battle was allowed to continue, it’s reported that Kimora was able to convince the court to dismiss a breech claim Russell filed during the lengthy court battle. The win resulted in Russell being ordered to cover $100k of Kimora’s legal fees, though reportedly, she initially argued for $119k. The court document allegedly reads:
“The Court awards to Lee attorney’s fees and costs in the total amount of $100,773.37.”
The report also notes that Russell has only a 30-day window to hand over the cash. Additionally, the report states that the fraudulent stock shares lawsuit is still ongoing.
Who do you think will win the suit in the end? Leave your predictions in the comments.