Music mogul Russell Simmons' empire continues to suffer after the rap mogul was accused of sexually assaulting another woman yesterday (November 30).

The latest accusations against Russell come from Jennifer Lumet, who is the granddaughter of Lena Horne. She recalls that Russell overpowered her and forced her up to his apartment in Manhattan and sexually assaulted her in his bedroom during an encounter in 1991.
Russell Simmons, 60, announced he would be stepping down from the various companies he has established over the past two decades.
These include All Def Digital and Def Films, which produces HBO series "Def Poetry Jam" and the upcoming series, "All Def Comedy." HBO has revealed they will remove all references of Russell Simmons from tonight's season premiere of All Def Comedy and cut his signature appearance from the end.
J.C. Penny's has stated they will drop Russell Simmons Argyleculture line from their stores. The mogul is also stepping down from his leadership role at the Rush Philanthropic Arts Foundation, which raises millions of dollars annually through swanky fundraisers in the Hamptons.
According to reports, Russell's staff at All Def Digital have been ordered to stay away from the founder of the company, which has raised over $18 million dollars from investors like Andreessen Horowitz, Greycroft Partners, Advancit, and others .
The business mogul released a statement yesterday saying
"I have been informed with great anguish of Jenny Lumet’s recollection about our night together in 1991. I know Jenny and her family and have seen her several times over the years since the evening she described. While her memory of that evening is very different from mine, it is now clear to me that her feelings of fear and intimidation are real. While I have never been violent, I have been thoughtless and insensitive in some of my relationships over many decades and I sincerely and humbly apologize."

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