Kylie and Kris Jenner are allegedly ‘freaking out’ over the 22-year-old getting kicked off Forbes’ Billionaire List!
Makeup mogul Kylie Jenner was unexpectedly removed from Forbes’ Billionaire List on Friday after the outlet claimed she had ‘inflated the size and success of her business for years.’
‘Kris and Kylie are freaking out and fear that this is going to hurt their brand, and even worse, they could be in trouble with the government,’ revealed an insider to The Sun.
The source also claimed that Kylie and Kris are ‘definitely worried’ about the potential legal and social ramifications of this controversy ‘tarnishing’ their family’s reputation.
Top financial fraud attorney Jan Handzlik told DailyMail.com on Friday that Kylie could face a criminal investigation over the alleged exaggerations.
‘My guess is that at a minimum the SEC (Securities Exchange Commission) will begin what they call an informal inquiry and then perhaps elevate that to a formal investigation, which gives them subpoena power,’ Handzlik said.
‘In this matter you’ve got a mixture of things that may lead to both civil and criminal scrutiny early on: obviously the celebrity aspect, the large amount of the alleged exaggeration, and the highly public nature. All of this is like catnip to a prosecutor or the SEC, because it will lead to very heavy coverage of what takes place.’