Damon Dash Faces Financial Debt, Eviction
Dame Dash, the once powerful mogul and founder of Roc-A-Fella Records, is going through a financial crisis right now as he’s knee-deep in personal debt.
According to the New York Daily News, the Harlem-born businessman is so broke he faces imminent eviction from his rented mansion in upstate New York.
“I am currently several months behind in paying my personal bills,” he wrote in a five-page court document. “For instance, I am currently over $100,000 behind in rent for the only home in which I live and at risk of being evicted.”
In a sworn statement, asking a judge not to garnish his wages, Dash also disclosed:
– He pays $24,000 every three months to his ex-wife, fashion designer Rachel Roy, for child support of their two kids, and to cover money owed on the lofts.
– New York State forces Dash to send another $4,341.10 per month for support of his son, Christian.
– He paid nearly $20,000 in garnished wages in late 2012 for other debts.
– And he faces a pending $40,000 tax payment for business earnings.
Elsewhere in the document, Dash states that he could be facing possible criminal prosecution for tax evasion in New Jersey. He also owes $2 million in New York State taxes and federal income taxes as well.
Despite his mounting bills, Dash insists he is in this situation because of legal battles that come with being an independent businessman. The 42-year-old currently runs art galleries in New York, Charleston, S.C., and Hong Kong.
“I’m an independent businessman and this is what comes from business,” said Dash via an email from his attorney, Gregg A. Pinto. “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.”
Listen to Damon Dash’s Interview on the Combat Jack Show