Financial Troubles Continue For Dame Dash

posted November 14, 2008 09:55:16 AM CST | 57 comments

An article posted Friday in the New York Daily News paints a bleak financial picture for Roc-A-Fella co-founder Damon Dash. In addition to calling Dash a has-been mogul, who has descended into an MC Hammer-like financial abyss, the piece chronicles both the public and private financial woes of one of Hip Hop's most notable entrepreneurs. Writer Jose Martinez used court documents and interviews with various financial lawyers as the basis for his article.

"I've worked with musicians, artists and entertainers that in the eyes of the media are very wealthy," said Jason Gabbard when interviewed by the Daily News. "But to borrow a phrase from my Kentucky homeland, they haven't got a pot to piss in--they're broke."

Gabbard represented a firm that settled with Dash out of court for $148,505 of unpaid fees. The list of debtors includes Eastern Savings Bank, the New York State Department of Taxation and Finance, former accountant Barry Klarberg, and fashion designer Charlotte Ronson. Additionally, a Manhattan judge ordered the seizure of Dash's Chevrolet Tahoe earlier this week for not making the $714.99 monthly payments.

All told, the alleged debt adds up to over $10 million. Dash was busy helping his friend Jim Jones promote his Off-Broadway production "Hip Hop Monologues," [click to read] and, according to the Daily News, did not respond to interview requests. Dash's spokeswoman, Amanda Silverman, responded to the Daily News' article via e-mail saying he "won all of his lawsuits."

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