The fashion designer, who allegedly took almost 4 million shares to pay current husband Tim Leissner's bail, also argues that the stocks have yet to be sold off.

• Aug 27, 2021

AceShowbiz - Kimora Lee Simmons has fired back at ex Russell Simmons. Having been sued for allegedly stealing his stocks, the fashion designer claimed that she and her current husband Tim Leissner were "authorized" to use the shares.

For the record, Russell has accused Kimora and Tim of conspiring to make a fraudulent transfer of his nearly 4 million shares of energy drink company Celsius. Russell alleged that they did it to help pay for Tim's bail fees for a 2018 money laundering case in which he pleaded guilty.

However, according to court documents obtained by Radar, Kimora said her former spouse had no proof to back up his allegations against her and Tim. Thus, she is now asking the court to dismiss his lawsuit.

"At the time Defendants used the Celsius shares for purposes of the bond in connection with the federal case, [Kimora] understood and believed that Defendants were authorized to use the shares for the bond," so read the documents.

Kimora and Russel previously partnered together in an investment company called Nu Horizons but he already resigned from the board. The TV personality went on to note that she made the transfer months after her ex's departure.

Kimora stated that Russel also sold off his interest in the company and other assets to another company named Keyway Pride LTD for $14.25 million. She also claimed that the shares have yet to be sold off because they are just temporarily being held by the government as collateral for the bond, which totaled nearly $44 million. Kimora said they will be returned.

Kimora has previously shut down Russell's allegations via her legal counsel. "Kimora and her children are shocked by the extortive harassment coming from her ex-husband, Russell Simmons, who has decided to sue her for shares and dividends of Celsius stock in which Kimora and Tim Leissner invested millions of dollars. This is an ill-advised attempt by Russell to use the legal system to access funds he is in no way entitled to, and which his own legal team confirms Russell did not pay for," so read a statement shared to Entertainment Tonight.

"Russell's continued aggressive behavior not only blatantly distorts the facts, but is simply a desperate PR ploy ignoring the years of mental and emotional anguish, gas lighting, and ongoing harassment he has inflicted on Kimora," the statement added. "Russell will be held accountable for his serial abuse and we will confront his baseless claims that he is warranted Celsius stock dividends despite his self-admitted zero contribution."