Kimora Lee Simons, the founder, and owner of Baby Phat, recently responded to her ex-husband, Russell Simmons alleged fraud claims in a lawsuit against her.
In the case filed against her and her new husband, Tim Leissner, she says that her ex-husband has no documentation to back up his charges of fraud. Kimora Lee Simmons told Radar Online that Russell’s lawsuit against her should be dropped.
Russell is suing his ex-wife and her current spouse, Leissner, for allegedly transferring and using his Celsius shares to pay for Leissner’s legal bills, according to BLACK ENTERPRISE.
The lawsuit was filed after Russell’s accountants noticed a “substantial unexplained change” in his interests in Celsius. Russell, his ex-wife, and Leissner allegedly combined millions of dollars to invest into Celsius.
Russell claims that Simmons and Leissner allegedly transferred his shares to their accounts without his knowledge. He said that he would’ve never known if it wasn’t for his accounting team.
Court documents stated that Kimora had improperly transferred four million shares of Celsius stock to another business. The move was made to aid in the payment of Leissner’s legal bills. Money laundering accusations had been brought against Leissner for his role in the Malaysian wealth fund 1MD. He had pled guilty to criminal conspiracy to commit money laundering. In exchange for not being sentenced to prison, Leissner agreed to repay the $44 million.
Russell also indicated that he had been waiting for years before filing this complaint since he wanted to solve the problems without going to court. After Tim’s bail-out money, he said his shares were frozen by the government.
According to Kimora’s representative, “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, gaslighting, and ongoing harassment he has inflicted on Kimora.”
Discover more from Baller Alert
Subscribe to get the latest posts sent to your email.
