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Russell Simmons' Biz Partner

You're Screwing Me

Out of MILLIONS

1/20/2013 4:32 AM PST BY TMZ STAFF
EXCLUSIVE

0109-russell-simmons-josephRussell Simmons' and Reverend Run's business partner has declared war on the hip hop moguls -- claiming they've hijacked MILLIONS in profits from their kids shoe company ... and now, he's gearing up to sue.

Lawyers for Rasheed Young -- President of Run Athletics -- sent Russell and Rev. Run a letter back in November, accusing the brothers of secretly funneling millions in revenue from their Pastry brand of footwear ... into a company that Rasheed isn't a part of.

Rasheed claims Pastry has raked in tens of millions in sales -- and so far, he hasn't seen a penny of it.

0109-pastry-shoes-tmz
Sources close to Rasheed tell TMZ, Russell and Rev. Run have been stonewalling him ever since he sent the letter -- refusing to respond to Rasheed's demands -- so now he's cranking up the legal heat.

Rasheed's demanding the Simmons brothers fix the screwed-up business structure ASAP ... and pay him his share of the shoe profits. If they don't, Rasheed says he'll sue.

Calls to Russell and Rev. Run's people haven't been returned.

33 COMMENTS

No Avatar
1.

4reallikecomon    

Who cares?

649 days ago
2.

tylerc85    

Crooks

649 days ago
3.

Celeb Gossip Addict    

This story is missing vital information. You refer to Mr. Young as a partner, but he sounds like an employee in this story. Is there a contract that says he's a partner? Did he invest money in the business? What does Run have to do with anything? Is he involved in the business in some official capacity that gives him the ability to funnel money out? I hope this guy has more to stand on than what is written here.

649 days ago
4.

Celeb Gossip Addict    

I care. Why don't you move on to a story that you do care about? And why did you read this one if you weren't interested. You've wasted precious time and space in your brain on something that doesn't concern you and you're not interested in. You're looking like an idiot to me.

649 days ago
5.

@iAMTIMWILSON    

Don't hate the playa, hate the game! Lesson Learned: Always read the fine print before your sign...

649 days ago
6.

Laura    

The guy on the right....can't find the words, so I'll just say holy crap!

649 days ago
7.

static    

No new news here, Just rich people screwing people to get richer.

649 days ago
8.

kisstheringfool    

Russel isn't srupid when it comes to buisness. This man is going to be blacklisted.

649 days ago
9.

rey    

Those brothers have used a lot of whitening cream.

649 days ago
10.

Kim    

This is sad. Is he a real reverend? Give the guy his share of dollars.

649 days ago
11.

Reyna38    

Ugly ass shoes ever...... Why do blacks always think that they can create shoes when they can't dress like a human being ever.... You all have ****eddddd up taste.... Leave the style under rocks..

649 days ago
12.

Brandy    

Didn't anyone ever watch Runs house. They are putting money from Pastry into a company Rasheed isn't part of because.....
It's Rev. Runs daughters business, they are the ones that created pastry.
Rasheed is a employee and is entitled to nothing.

649 days ago
13.

SuperSonic    

How weird. In the "reality show", Rev Run's daughters came up with that line. Shouldn't they be in that lawsuit? Oh wait, it's not real.

649 days ago
14.

Deco    

Very feminine look with that coat........

649 days ago
15.

Menace to society     

Black on black crime let them try some street justice

649 days ago
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