Russell Simmons is allegedly suing ex-wife Kimora Lee Simmons over Celsius Energy drink stock.
According to The Blast, music mogul Simmons has allegedly filed a lawsuit against his former wife Lee Simmons and her husband Tim Leissner for allegedly transferring and using his shares of an energy drink company to pay legal fees for Leissner.
Simmons claims the couple used the shares as collateral to pay off a bond related to criminal charges filed against Leissner. The Blast obtained documents stating he, Lee Simmons, and Leissner invested millions in the Celsius energy drink company. In the document, Simmons allegedly “conspired with each other, aided and abetted each other and together engaged in fraud by causing an unlawful conversion and fraudulent transfer” of the Celsius without notifying Simmons. He claims the couple transferred the shares to themselves.
The Blast reports that Simmons’ accountants found “substantial unexplained change” in his interests in Celsius.
In November 2018, Leissner pleaded guilty to criminal conspiracy to violate the Foreign Corrupt Practices Act and conspiracy to commit money laundering. Simmons claims Lee Simmons and Leissner “knew full well that Leissner would need tens of millions of dollars to avoid jail time, stay out on bail, and forfeit monies for victim compensation.” Simmons says the couple used the money for Leissner’s bail money, and he wants it back.
Simmons is asking that a judge order Simmons and Leissner to pay him damages and is calling for restitution for interest and equal value for the wrongfully obtained shares, The Blast reports.