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Russell Simmons fights back

By Gavriella Tjandra,

After Rasheed Young threatened to sue him, hip-hop mogul Russell Simmons denied Young's accusation, saying that he did not take millions from the sneakers company, and any mistakes were not by him, but might be 'disgruntled' employees.

According to TMZ, Simmons' former business partner, Young threatened to sue him and his brother Reverend Run, saying both of them took millions from him, by secretly channeling the company's revenue to a secret bank account.

Young's lawyers sent a letter last November to both of the hip-hop moguls, accusing him of taking the revenue and hiding profits of Pastry sneakers company, TMZ reported.

Simmons was in L.A. when he told TMZ that any accusations hiding profits was 100 percent not true.

"[Rasheed] worked for me ... I fought to keep his job ... and I'm sorry he's disgruntled, but that's what happens," he said. "Anyone can say anything if a celebrity's name's attached to it ... there's nothing I can do about it ... it's false," he then continued, "We never stole any money from anybody."

According to Hip Hop Wired, the brothers did not respond to the letter, and should the accusation was factual, Young would receive millions from the lawsuit,

Young had been the president of Run Athletics, a company that produced Pastry shoes, which was reportedly to be very successful.

The shoes line was initially started by Angela and Vanessa, Reverend Run's daughters, back in 2007, and had been earning $15 million in profit.

 
 

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