Russell Simmons accuses Kimora Lee Simmons of fraud in new lawsuit

 The hip hop icon has accused his former wife, Kimora Lee Simmons, of stealing his shares from an investment to bail her new husband out of jail

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Hip-hop mogul Russell Simmons claims his ex-wife Kimora Lee Simmons stole from him.

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Simmons claims Kimora used shares from an energy drink company they invested in called Celsius. The shares were used as collateral for a bond connected to federal charges against Leissner.

Back in 2018, Leissner pleaded guilty to criminal conspiracy to violate the Foreign Corrupt Practices Act and was hit with conspiracy to commit money laundering, per Forbes.

Russell alleges that the mother of his daughters Ming Lee Simmons, 21, and Aoki Lee Simmons, 18, “knew full well that Leissner would need tens of millions of dollars [$44M] to avoid jail time, stay out on bail, and forfeit monies for victim compensation.”

Russell alleges that years ago he and Kimora invested millions into the energy drink. He adds that he became suspicious when he noticed “substantial unexplained change” in regards to his shares.

He claims the couple, “conspired with each other, aided and abetted each other and together engaged in fraud by causing an unlawful conversion and fraudulent transfer.”

Kimora Lee Simmons and Tim Leissner attend The Weinstein Company & Netflix’s 2014 Golden Globes After Party on January 12, 2014 in Beverly Hills, California.

The entrepreneur and mogul said he is upset over the ordeal and wrote her a letter on May 5.

“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.”

Russell is seeking damages and restitution for equal value of the shares and interest,”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.”

The couple split back in 2009.

He responded to the allegations in June of 2020 while on The Breakfast Club, saying he did not intentionally victimize anyone, as reported by theGrio.

Simmons appeared on the popular morning show to defend himself, though one of his alleged victims was upset at the show and hosts for having him on.

Z Spoke By Zac Posen - Front Row - Spring 2011 MBFW
\Kimora Lee Simmons, Russell Simmons and director Brett Ratner attend the Z Spoke by Zac Posen Spring 2011 fashion show on September 11, 2010 in New York City. (Photo by Michael Loccisano/Getty Images for IMG)

 “I could never say that someone doesn’t feel victimized… I can tell you that I don’t feel like I victimized them,” he stated.

He then revealed that his conscience was clear in the matter given he says he has taken, “nine separate three-hour lie detector tests.”

Simmons then went on to say that when he read an account by writer Jenny Lumet, in which she described how he’d allegedly assaulted after offering her a ride home, he believed her account.

However, he also said he believes the incident to be a “misunderstanding” where he thought the sex was consensual and she felt otherwise.

“It broke my heart when I read it,” he conceded during the interview. “I’d never heard it. But thirty years later, I read it and I believed her.”

Additional reporting by Blue Telusma

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