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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

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16.

WTF    

Not at all surprised those 2 are shady. Russel just seems like the type that could put one over on you.

579 days ago
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