Damon Dash Says He’s Deep In Debt

News

By: / May 12, 2013

Damon Dash had it all.

The former Roc-A-Fella Records CEO sat atop a $50 million empire in the early 2000s. With endeavors ranging from Rocawear clothing to Armadale vodka, the 42-year-old entrepreneur had reached mogul status in the industry. But several false steps and a slew of business deals gone wrong, have placed Dash in a compromising position and close to losing his suburban Carmel, NY home.

According to the New York Daily News, Dash filed a five-page document recently that claims he faces possible criminal prosecution for non-payment of taxes in New Jersey. The documents also convey Dash owes more than $2 million in taxes to New York state.

“The drumbeat of debt has made it not only nearly impossible for me to maintain my businesses,” Dash wrote. “They have caused me to fall far behind on my personal expenses.”

Dash is currently paying close to $25,000 every three months to his ex-wife, fashion designer Rachel Roy, for child support of their two kids, and another $4,000 and change for an additional son he fathered.

In an email to the Daily News, sent from his attorney, Dash stated, “I’m an independent businessman and this is what comes from business. I have the guts to fight my battles on my own and it’s entertainment to everybody else because I’m so cool about it.”