Tag Archives: Celsius energy drink

Kimora Lee On Russell Simmons’ Lawsuit: Nothing More Than “Harassment”

Screen Shot 2021 05 21 at 6.25.05 AM

After Hip Hop mogul Russell Simmons filed a lawsuit against his ex-wife and fashion maven Kimora Lee Simmons and her husband, Kimora has now opened up about the allegations from the Def Jam co-founder, saying that his lawsuit is “nothing more than extortive harassment from a serial abuser,” according to a report from TheBlast.

As previously reported, Simmons filed a lawsuit against Kimora Lee and her hubby Tim Leissner for allegedly transferring shares of Celsius Energy Drink, worth tens of millions of dollars, belonging to Simmons to use as collateral for Leissner’s bond in relation to a federal case.

A statement from Kimora’s legal team disputes Simmons’ claim in a statement, stating, “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.”

The statement continued, “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.”

TheSource.com will update this story as details develop.

The post Kimora Lee On Russell Simmons’ Lawsuit: Nothing More Than “Harassment” appeared first on The Source.

Click Here to Discuss in the Forums

Spread the love
             
 
   

Russell Simmons Suing Ex-Wife Kimora Lee Simmons Over Celsius Energy Drink Stock

Screen Shot 2021 05 19 at 9.22.28 AM

According to areport from The Blast, Hip Hop mogul Russell Simmons is suing his ex-wife Kimora Lee Simmons and her new husband, Tim Leissner, for using Simmons’ shares of his Celsius Energy Drink company to pay for attorney fees for Leissner. The Def Jam pioneer claims that his shares are being used as collateral to pay a bond in connection with criminal charges filed against Kimora’s new hubby by federal authorities.

In the suit filed by Simmons, he claims that he. Kimora and her husband Tim invested millions of dollars into Celsius Energy Drink, but allege that the Baby Phat head honcho and her new beau “conspired with each other, aided and abetted each other and together engaged in fraud by causing an unlawful conversion and fraudulent transfer” the Celsius shares to themselves without his knowledge or consent.

Russell says that he sent a letter to his ex-wife on May 5, pleading with her to do the right thing in order to avoid a lawsuit. In the letter, he wrote, “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.”

Simmons is asking a judge for damages against Kimora and Leissner and believes he should be awarded restitution for interest and equal value for the ill-gotten shares.

Kimora’s husband pleads guilty to criminal conspiracy to violate the Foreign Corrupt Practices Act and conspiracy to commit money laundering in November 2018. Simmons claims he knew Leissner would need millions of dollars, $44 million according to his lawsuit, to stay out of jail which prompted the illegal transfer of the shares.

Simmons closed his letter to his ex-wife, saying, “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 post Russell Simmons Suing Ex-Wife Kimora Lee Simmons Over Celsius Energy Drink Stock appeared first on The Source.

Click Here to Discuss in the Forums

Spread the love