HBO, J.C. Penny's Severe Ties With Rap Mogul Russell Simmons

AllHipHop Staff

More bad news for rap mogul Russell Simmons, who is facing several sexual assault allegations.

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

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 like "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.

“HBO will be airing ‘All Def Comedy’ as planned. However, Russell Simmons will not appear in the new series and we will be removing his name from the show moving forward,” HBO said in a statement.

“The series is a platform for promising and upcoming comedians and we do not want to deprive them of an opportunity to showcase their talents to a national audience. We have no other projects with Russell Simmons,” HBO said.

Additionally, 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 latest issues for Russell Simmons amidst accusations that he forced sex upon Hollywood screenwriter Jennifer Lumet during an encounter in 1991.

Jennifer Lumet, who is the granddaughter of Lena Horne, maintains Russell Simmons overpowered her and forced her up to his apartment in Manhattan and sexually assaulted her in his bedroom.

"While her memory of that evening is very different from mine, it is now clear to me that her that her feelings of violence and intimidation are real," Russell Simmons said in a statement.

"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," Russell Simmons said in a statement announcing his departure from his businesses.