Russell Simmons will have to pay his ex-wife Kimora Lee Simmons more than $100K in legal fees after a Los Angeles Superior Court judge granted a motion brought to the court by Kimora’s attorney.
Black Enterprise got more;
Court documents revealed that the record executive was ordered to pay a total of $100,773.37. Lee requested that Simmons pay $119,000 to cover the court costs she spent preparing the motion. Simmons has to make the payment in full within 30 days.
“THE COURT AWARDS TO LEE ATTORNEY’S FEES AND COSTS IN THE TOTAL AMOUNT OF $100,773.37.”
Simmons and his ex-wife went to court over a countersuit filed by Lee’s estranged husband, Timothy Leissner, after Simmons sued him. The Def Jam founder filed a lawsuit against his ex-wife and the investment banker in 2021. Simmons accused the couple of stealing stocks that he owned to pay for Leissner’s bond stemming from a criminal case.
Simmons and the couple collaborated in an investment company called Nu Horizons Investment Group, and Leissner reportedly used stock from the company’s energy drink Celsius to secure his bond after he was arrested.
Leissner was implicated in a money-laundering and bribery scandal in 2018 and reportedly diverted billions of dollars from Malaysian State Fund 1MDB. After pleading guilty, he was ordered to pay the victims $43.7 million. Simmons contends that Leisner used 4 million shares of Celsius as collateral for his bond.
Lee admitted to using the shares for collateral but claimed that because Simmons had quit as manager of Nu Horizons in 2018, she did not have a duty to inform him about using the stocks as collateral for her husband’s bond.
“At the time [Tim & Kimora] used the Celsius shares for purposes of the bond in connection with the federal case, [Kimora] understood and believed that [Tim & Kimora] were authorized to use the shares for the bond.”
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