MadameNoire
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Russell Simmons and Kimora Lee Simmons have been blended family goals for more than a decade, but it appears that the lifelong friends and business partners have hit a bump in the road.
According to The Blast, the hip-hop mogul filed a lawsuit against the former supermodel and her husband, Tim Leissner, for allegedly siphoning some of his shares in the Celsius energy drink company so that they could use them as collateral to post bond for Leissner, who is currently facing a series of federal charges including conspiracy to launder money.
Prior to the incident, Simmons, his ex-wife, and Leissner invested tens of millions of dollars into Celsius, according to court documents. However, Simmons alleges that his accountants eventually noticed a “substantial unexplained change” in his shares in Celsius. Upon further investigation, Simmons says that they discovered the shares had been transferred to Leissner and the Baby Phat founder. Thus, he is alleging that they “conspired with each other, aided and abetted each other and together engaged in fraud by causing an unlawful conversion and fraudulent transfer.”
Considering the positive relationship that the pair has always portrayed to the public, you’re probably wondering why they couldn’t settle this out of court. Well, Simmons claims that he sent a letter to his ex-wife on May 5 and pleaded with her to transfer back the shares so that they could “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.” However, it appears that his attempts were futile.
“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 letter goes on.
As a result, he is asking a judge to award him damages and restitution for interest and equal value for the shares.
Leissner is facing 25 years in prison.
