Russell Simmons and Rev Run may be getting sued by business partner

This could easily be a misunderstanding, but in business there's always going to be some kind of shady business dealings when money is on the line. Rasheed Young, a business partner in Run Athletics, may be suing the Simmons brothers. Hip Hop Wired reports:

Russell Simmons and Rev Run are in fear of being sued by their business partner who claims to have been stiffed out of millions.

Run Athletics president, Rasheed Young, had his lawyer send a letter to the brothers last fall, accusing them of hiding the money, which he is potentially owed.
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.

Wallace was reportedly left with no choice but to take further action after his letter was met with no response. He has promised to sue if the duo doesn't pay up.

Provided that his story is factual, Young stands to get millions, as Run Athletics Pastry shoe line has been very successful. Back in 2007 the line, started by Rev Run's daughters, Vanessa and Angela, had $15 million in profits for the year. The line is estimated to be worth $50 million today.

***UPDATE***

Russell Simmons took time to speak with someone from TMZ, and adamantly denied the charge that he cheated Rasheed Young out of millions. Hip Hop Wired reports:

According to Simmons he never cheated Young--who is the president of his shoes company, Run Athletics-- out of million in profits. Young asserts that Pastry, one of the company's brands geared towards a female demographic, raked in tons of money, of which he is owed.

Speaking to TMZ, Simmons denied all allegations. "[Rasheed] Worked for me. I fought to keep his job and I'm sorry he's disgruntled but that's what's happens. Anyone can say anything if a celebrity's name's attached to it. There's nothing I can do about it. It's false. We never stole any money from anybody."

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