Has there been a hi-jacking in Hollis??
Rev. Run And Russell Simmons Allegedly Stole Millions From Pastry Business Partner
According to TMZ reports:
Russell 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.
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.
We can’t say we’re totally surprised at BDR, but we never thought Rev. would turn into one of these suspect, money-grubbin, preachers.
They got some ‘splainin’ to do.
Image via AP