In court testimony to keep from having his wages garnished Damon Dash reveals he's thisclose to being evicted from his only home...
From The NY Daily News
The piles of money he made with Jay-Z have been replaced by mountains of IOUs.
Hip-hop mogul Damon Dash is so deeply in debt that he claims in court documents he faces imminent eviction from a rented mansion in suburban Carmel, N.Y.
“I am currently several months behind in paying my personal bills,” he wrote Tuesday in the 5-page filing. “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.”
Dash lost a pair of multimillion-dollar Tribeca lofts to foreclosure in 2010, with $7.3 million left on the massive mortgages.
He was platinum-selling Jay-Z’s partner in Roc-A-Fella Records and the Rocawear clothing line, and once boasted in a magazine interview that he ruled a $50 million empire.
In a sworn statement asking a judge not to garnish his wages, Dash 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.
The drumbeat of debt has “made it not only nearly impossible for me to maintain my businesses, they have caused me to fall far behind on my personal expenses,” Dash wrote.
He was in Manhattan Supreme Court on Thursday to fight a charge of ignoring a 2008 lawsuit from a garment industry lender seeking payback for a $237,078 loan.
