Kimora Lee Simmons’ Husband Scoffs At Her Ex Russell Simmons In Court, Denies Committing Fraud Against Disgraced Hip-Hop Mogul
Dec. 2 2021, Published 3:23 p.m. ET
Kimora Lee Simmons’ husband Tim Leissner is firing back at her ex-husband Russell Simmons’ accusations he screwed him out of millions.
According to court documents obtained by Radar, Tim is asking the court to throw out all claims filed against him by the disgraced music mogul.
In the filing, Kimora’s husband denies all allegations of wrongdoing. He argues Russell “did not exercise ordinary care on their own behalf at the times and places alleged.”
Earlier this year, Russell filed a nasty lawsuit against his ex-wife and her investment banker husband accusing them of fraud. He claimed the couple stole stocks he had ownership in without permission.
Russell and Kimora were married from 1998 till 2009. They never spoke negatively about the other until recently. In the past, the two were still on good terms and even partnered together in an investment company called Nu Horizons.
In court docs, Russell says he owned 4 million shares of the energy drink company Celsius through Nu Horizons. In the suit, he claims Kimora and Tim unlawfully transferred the funds owned by him into their own account. He said they did this to help pay for Tim’s legal fees at the time. Kimora’s husband was facing money laundering charges but eventually pleaded guilty and avoided prison time.
As part of his plea deal, he agreed to pay back $44 million. Russell said, "Knowing full well that Defendant Leissner would need tens of millions of dollars to avoid jail time, stay out on bail and forfeit monies for victim compensation, Defendants engaged in this blatant fraud to achieve that nefarious and unlawful goal."
Kimora has denied committing fraud. Her lawyer argued, “at the time Defendants used the Celsius shares for purposes of the bond in connection with the federal case, Lee understood and believed that Defendants were authorized to use the shares for the bond.” Kimora says Russell had resigned from the board of Nu Horizons months before the transfer and sold off his interest in the company for $14.25 million.
The Baby Phat founder said the shares are not gone and are only being temporarily being held by the government and will be returned.
Russell told the court the shares have been frozen by the government after being used as Tim’s bond.
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In his response, Tim argues his actions were “taken solely for the legitimate business rationale that did not constitute fraud, breach of contract, or breach of any fiduciary duty owed by Defendant to Plaintiff.”
Tim is demanding the entire case be thrown out of court immediately.
