2 weeks ago
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Russell Simmons and his ex-wife, Kimora Lee, are headed for a face-off in court as part of their nasty battle over stocks worth millions, In Touch can exclusively report.
According to court documents obtained by In Touch, a Los Angeles Superior Court judge set a trial date of January 2, 2026, in the lawsuit brought by Russell, 67, against Kimora, 49, and her ex Tim Leissner.
The parties have been fighting in court for years over shares in energy drink company Celsius. Russell and Kimora were married from 1998 until 2009. Kimora married Tim in 2014 but the two became estranged during his legal issues.
Tim, a former Goldman Sachs investment banker, was caught up in a massive scandal called 1MDB.
The government described it as a “multibillion-dollar bribery and money laundering scheme involving Malaysia’s state-owned investment and development fund, 1Malaysia Development Berhad (1MDB).”
Tim pleaded guilty to conspiring to launder money and another charge. He agreed to forfeit $43 million along with shares of stock valued at $200 million.
In 2021, Russell sued Kimora and Tim for breach of contract, fraudulent concealment and various other claims.
In his lawsuit, he claimed that he created a company called Nu Horizons in 2011. He was the sole member and manager. He said that Kimora and Tim joined the company as members in 2016.
Russell said, despite his divorce from Kimora, they maintained a solid relationship. He said he became close with Tim over the years too.
Russell said he had Nu Horizons purchase tens of millions in the stock for Celsius in 2016.
He said, Kimora and Tim, “knowing full well that they would be required to pay tens of millions for bail and a victim compensation plea-deal, conspired with each other, and with all defendants, to effectuate the unlawful fraudulent scheme” following Tim’s criminal case being brought.
Russell claimed Kimora and Tim used the stock in Celsius as bond in Tim’s criminal case without his consent. Kimora denied the accusations.
She told the court Russell had resigned from his role as manager of Nu Horizons in January 2018.
She said when the stocks were used as bond, “it was my understanding that Russell Simmons was no longer a manager or member of Nu Horizons and that he had no ownership interest in the shares of stock in Celsius Holdings, Inc that were used to secure a bond in the criminal case.”
Tim denied all allegations of wrongdoing. He asked that Russell take nothing from his complaint.
All parties told the judge they wanted a jury trial.
As In Touch first reported, the parties are also fighting in federal court over the stocks. As part of Tim’s criminal case, Russell and Kimora have been going back and forth for months over who owns the stocks.
Recently, the two were fighting over Kimora turning over text messages she exchanged with Tim.
His lawyer said, “The only text messages [Kimora] has produced appear to be messages sent or received by [Tim], not her. [Russell] is entitled to text messages that contain responsive content, excluding those between her and [Tim] (unless third parties are also party to those messages).”
The battle is ongoing.
English (US) ·