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Def Jam

Russell Simmons Denies Allegations That He Stole Millions From a Farmer Business Partner

Posted By on January 24, 2013

Earlier this week a story broke in which Rasheed Young, who claimed to be a business partner with Russell Simmons and his brother Rev Run, accused the brothers of stealing millions from him by funneling the money from their joint venture “Pastry Shoes” into a shell company that Young had no ownership or interest it.

At the time the story initially ran, Young was threatening to sue both brothers and revealed that his lawyers had sent official letters to both Russell and Rev Run making them aware of the allegations, but they did not respond.

Well, Russell Simmons is speaking out. Russell, who refers to Young as an employee on a number of occasions during an interview with TMZ, says that neither he nor his brother is guilty of any wrong doing. He says that Young is a disgruntle employee whose job he has had to save on more the one occasion.

“[Young]’s a nice enough guy, he worked for me,” said the Def Jam founder. “I fought to keep his job a number of times, he didn’t have a job and I went back to our partners and kept him working. I’m sorry he’s disgruntled, but that’s what happens. Anybody can say anything in this day and time and if a celebrity’s name is attached to it, people like to sometimes believe dirt, and so it spreads…the story, it’s not true.”

Simmons did not confirm or deny that he had received notice of the pending lawsuit from Young.