Tag Archives: Tim Leissner

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
             
 
   

Kimora Lee Simmons Husband Breaking The Bank in Scandal

Kimora Lee Simmons’s husband, Tim Leissner, was balling on a whole other level before scandal hit.

The former Goldman Sachs partner in Asia agreed to forfeit $43.7 million in 2018 over a guilty plea with the Department of Justice. Apparently, Leissner and his associates mismanaged $4.5 billion incorrectly.

Last week, his former employer set aside $1.09 billion during the final quarter of the year. According to Forbes, this settled $6.5 billion in loans to Malaysian development fund 1MDB.

Leissner profited illegally from the transaction.

Leissner broke U.S. bribery laws and pleaded guilty. As a result, he is barred by the Securities and Exchange Commission. The charges were initially filed in 2017.

Leissner and his accomplices managed the funds from 2009 to 2014 with more than $200 million going directly to him and an associate.

Ironically, the funds were used to purport a lavish rap music lifestyle. From luxury yachts to U.S. properties, art, and eventual bribes, Leissner was balling.

As a result, Goldman Sachs posted earnings per share down 22% from the previous year. The Malaysian government is also fining Goldman Sachs $7.5 billion for the drama.

With the sexual assault accusations against her ex-husband, Russell Simmons, Kimora is going through it with her relationships.

The post Kimora Lee Simmons Husband Breaking The Bank in Scandal appeared first on The Source.

Click Here to Discuss in the Forums

Spread the love