Just three years ago, Damon Dash sold his 25 percent stake in Rocawear for a reported $22 million. Now, the hip hop mogul and former co-founder of Roc-A-Fella Records is reportedly broke.
"I've worked with musicians, artists and entertainers that, in the eyes of the media, are very wealthy," Jason Gabbard— the attorney who settled a suit against Dash and his wife Rachel Roy, for $148,505 in unpaid fees to a fashion firm— told the New York Daily News. "But to borrow a phrase from my Kentucky homeland, they haven't got a pot to piss in -- they're broke."
Besides being tangled up in a lawsuit that claims Dash cheated a law firm handling his child-custody case, according to the Daily News, Dash owes lawyers, companies, lenders and landlords, huge sums of money. This week a judge ordered the city to take away Dash’s Chevrolet Tahoe over regular missed payments of $714 a month.
In August, Eastern Savings Bank foreclosed on two of Dash’s Tribeca apartments, after Dash fell into $7.3 million in debt when he and his wife failed to pay their $78,500 mortgage.
Dash previously owed Armadale Vodka and Keds.
Dash currently owes $2.1 million to the New York State Department of Taxation and Finance, and $4,500 for not paying workers’ comp. Dash’s lawyer has since stopped working with his client, because Dash has not been able to pay his legal bills.
November 17, 2008 @ 12:11 pm
Hip Hop Mogul Damon Dash In Extreme Debt
Judge orders city to take away Dash’s Chevy Tahoe
Article tags: Damon Dash, Jay-Z, Rachel Roy, Jim Jones, Shakir Stewart
Page printed from:
http://www.vibe.com/news/news_headlines/2008/11/damon_dash_debt/
Top 25 Stories
Featured Galleries
Raekwon and Murs are Ninja Assassins
Check out these on-the-set flicks of Raekwon's new video, "Legacy," off the Ninja Assassins soundtrack. Hai-ya!
All photos shot by Azul "213" Amaral
Turnin' Me On: Keri Hilson
Keri's click-snap game is on point. Check out this 20-plus photo gallery for proof...
Keri's click-snap game is on point. Check out this 20-plus photo gallery for proof...
Soul Train Awards 2009
Photos from the Soul Train Awards Pre-Party at La Pomme
Photos from the Soul Train Awards Pre-Party at La Pomme
Lady Gaga's Paparazzi
Pop music's most eccentric had a Monster year. Check out some highlights.
Pop music's most eccentric had a Monster year. Check out some highlights.
Halle Berry Gallery
One look at this photo gallery will show you why Hurricane Chris dedicated a song and dance to Halle.
One look at this photo gallery will show you why Hurricane Chris dedicated a song and dance to Halle.
Halloween 2009 In Pictures
Stars in New York, Los Angeles, Washington DC and Las Vegas show their true colors on Halloween.
Stars in New York, Los Angeles, Washington DC and Las Vegas show their true colors on Halloween.
Chris Brown
Peep these snapshots fresh off the video set of Chris Brown's second single, "Crawl." Look out for the Cassie cameo, too!
Peep these snapshots fresh off the video set of Chris Brown's second single, "Crawl." Look out for the Cassie cameo, too!
Precious Premiere
The premiere of Tyler Perry's critically acclaimed motion picture brought out the biggest and brightest.
The premiere of Tyler Perry's critically acclaimed motion picture brought out the biggest and brightest.
Alicia Keys
Alicia Keys is now “Sleeping With A Broken Heart," but we keep you awake with a gallery of her pics.
Alicia Keys is now “Sleeping With A Broken Heart," but we keep you awake with a gallery of her pics.
Rihanna: R U Ready?
With Rihanna's "Russian Roulette" heating up airwaves, we take a look at RiRi's best shots--all 56 of them!
With Rihanna's "Russian Roulette" heating up airwaves, we take a look at RiRi's best shots--all 56 of them!
Lebron James Photos
On and off the court, Lebron shows his savoir-faire.
On and off the court, Lebron shows his savoir-faire.
Chris Brown Pics
Chris Brown is on the comeback trail. Check out these snapshots of CB in his element.
Chris Brown is on the comeback trail. Check out these snapshots of CB in his element.
Beyoncé Gallery
From Destiny's Child to Dreamgirls to top diva, Beyoncé is the baddest B.
From Destiny's Child to Dreamgirls to top diva, Beyoncé is the baddest B.
home