Chapter
Russell Admits to Not Reporting Fees to the IRS in Southern Charm
43:37 - 50:04 (06:26)
During a conversation in Southern Charm, Russell admits to Emily Limehouse that he did not report some of his fees to the IRS until 2021 and also took out loans.
Clips
Russell's fees earned during his role as conservator or personal representative were a substantial percentage of his yearly income, while he also earned around $400,000 in fees from managing Ellex clients' accounts.
43:37 - 45:46 (02:08)
Russell's Fees
Summary
Russell's fees earned during his role as conservator or personal representative were a substantial percentage of his yearly income, while he also earned around $400,000 in fees from managing Ellex clients' accounts. It is unclear what prompted Russell to go back and report these fees in 2021.
ChapterRussell Admits to Not Reporting Fees to the IRS in Southern Charm
Episode'Rich People Problems': The Victimization of Russell Laffitte (S01E62)
PodcastMurdaugh Murders Podcast
Russell Simmons is facing allegations of taking fees for clients he didn't interact with, not reporting income to the IRS until 2021, and taking out questionable loans.
45:46 - 50:04 (04:18)
Financial fraud
Summary
Russell Simmons is facing allegations of taking fees for clients he didn't interact with, not reporting income to the IRS until 2021, and taking out questionable loans.