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Kylie Jenner could face a criminal investigation over alleged exaggerations of her company's value, a top financial fraud attorney has revealed. 

The cosmetics entrepreneur was kicked off the coveted Forbes Billionaire list by the wealth magazine on Friday in a shock move, after the outlet said financial filings with the Securities Exchange Commission (SEC) show she may have been lying about the success of her cosmetics company. 

In an exclusive interview with DailyMail.com, internationally renowned lawyer Jan Handzlik, who served five years as a federal prosecutor in LA and now defends celebrities and big companies in financial fraud cases, said the alleged exaggerations could land Jenner in a world of legal trouble.