Russell Simmons has been married to only one woman out of all the supermodels he’s dated, and she just so happens to be Kimora Lee. The two created an empire together before their divorce in 2007, but now things have changed for them both as Russell takes her back into court with accusations that they share a fortune worth 100 million dollars which was intended on being placed into his trust fund at age 40 years old.
Russell Simmons is best known for marrying his wife Kimora Lee after dating many other models throughout the course of his career; however not too long ago, it looks like times are changing when according to a new lawsuit against her by him alleging fraud over shares from some company called Phat Fashions Inc.
Kimora Lee was the last and only woman to have been married to Russell Simmons. The two had a daughter, Ming Li Simmons who is now 13 years old. But despite their divorce 5 years ago – all seems well between them today as they maintain an amicable relationship for her sake up until this recent lawsuit that has changed everything we knew about these best friends!
According to The Blast, the hip-hop mogul filed a lawsuit against the former supermodel and her husband for allegedly siphoning some of his shares in Celsius energy drink company so that they could use them as collateral to post bond.
Accusing of Fraud on Kimora Lee Simmons:
Former business partners of the Fashion Mogul, Pharrell Williams are being accused by a significant shareholder in their company of fraud. The now-disbarred attorney alleges that his accountants noticed “a substantial unexplained change” to his shares and upon further investigation, they discovered those changes were transferred from Simmons’ name into Leissner’s and Baby Phat founder Kimora Lee Simmons’. However, it is unclear whether this allegation will lead to any legal action against either party as there does not seem to be sufficient evidence on which anyone can base judgment
Before the incident with fashion mogul Pharrel Williams’s ex-wife Alexis was investing tens of millions of dollars into Celsius according to court documents but after noticing “substantial” unexplainable change.
It’s an unfortunate day for a celebrity couple when they can’t even put their differences aside to stop fighting in court, but it appears that there was no settling this dispute out of the courtroom. In his letter on May 5th, Simmons pleaded with Pitt about transferring back shares so that “we can get the important family matter of Celsius shares behind us and carry on as loving united front we have always been.” It sounds like he tried everything–but sadly she didn’t want any part of what her ex-husband had proposed.
“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.
Mark Leissner, the former Goldman Sachs employee who is facing 25 years in prison for his involvement with 1MDB has asked a judge to award him damages and restitution as well as interest. His lawyer also argued that he should be compensated at an equal value of shares due to costing him most of what life savings he had left.
For more updated info and press releases visit The Market Activity.
