After being accused of stealing millions from his former business partner, Russell Simmons is proclaiming his innocence. Simmons told TMZ that he absolutely did not steal money from his sneaker company and that the accusations are the product of a disgruntled employee.

Former business partner Rasheed Young threatened to sue last week, claiming Simmons took money from their company and kept it in a separate account. Simmons says this is 100% untrue.

"Rasheed worked for me...I fought to keep his job," Simmons told TMZ. "And I'm sorry he's disgruntled, but that's what 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 from anybody."

We'll see in the next couple weeks how Mr. Young responds to Simmons insistence that he's done nothing wrong.