Kylie Jenner Was Investigated By Court And Suspected Of Issuing False Financial Information

Suspected of providing false information, the US Securities and Exchange Commission and the New York District Court have launched an investigation into the Kylie Jenner, the founder of the Internet red brand Kylie Cosmetics, which was bought by Coty Inc, the US cosmetic giant last year (Cotti).

In 2019, the American social red man Kardashian's half sister, Kylie Jenner, who was only 21 years old, was chosen as the youngest "self-made" rich in the list of Forbes's global rich list for $1 billion.

At that time, Forbes pointed out that the main source of Kylie Jenner assets was the beauty brand Kylie Cosmetics, founded in 2015, and conservatively estimated that the value of Kylie Cosmetics was at least $900 million.

In November 2019, she sold the majority of the company's 51% stake to the beauty giant Coty Inc (Cotti) at a price of 600 million US dollars. Based on this calculation, the overall valuation of Kylie Cosmetics reached US $1 billion 200 million.

But in May 29th, Forbes again issued a document saying that Kylie Jenner and her mother, Kris Jenner, had publicly exaggerated the personal wealth and company income data of Kylie Jenner. It is obvious that "Kylie is lying."

This week, Forbes, spokesman for Matthew Hutchison, said: "the survey of the latest documents submitted by Coty group shows that there is a significant difference between the information provided by Kylie Jenner in private and the information provided publicly to shareholders." Forbes said Kylie Jenner has been giving false information to the media and the public over the past few years, trying to convince everyone that Kylie Cosmetics's sales and profits are far higher than the actual level. Forbes has moved Kylie Jenner out of the list of one billion or more.

Jenner said, "what I see is just some inaccurate statements and unconfirmed assumptions. I can now list 100 more important things than how much money I have to pay attention to.

Jan Handzlik, a financial fraud lawyer, believes that Kylie will face criminal investigation and may be sentenced to jail if the allegation is true. "My guess is that the securities and Exchange Commission will conduct an informal investigation of the matter and may escalate to a formal investigation later," he said. He said this could eventually lead to the involvement of the US Department of justice.

According to reports, the securities and Exchange Commission and the New York District Court have launched an investigation into Kylie Jenner, which is alleged to have forged the market value of the company, affecting the share price of the Coty group, and cheating and interfering with the market.

After the news, Coty group's share price fell 13% on Tuesday, closing at $3.63 per share, and has fallen to 68% since 2020. Last month, Coty announced that 60% of its professional beauty and retail hairdressing business will be sold to KKR at 3 billion US dollars, including hairdressing brand Wella and professional nail brand OPI.