Can this be legit?



Damon Dash: From record & fashion big shot to has-been mogul
BY JOSE MARTINEZ
DAILY NEWS STAFF WRITER

Friday, November 14th 2008, 4:00 AM


Roca/News

Damon Dash
A bank wants his Tribeca condos, the city is seizing his SUV and his lawyer dropped him for not paying his legal bills.

It's not easy being Damon Dash, has-been hip-hop mogul.

The co-founder of Roc-A-Fella Records and Rocawear - who in 2005 sold his share in the clothing empire to Jay-Z for $20 million - is under assault in Manhattan Supreme Court from lawyers, lenders and landlords fed up with not getting paid.

The fall has been a dizzying one for Dash, who has gone from owning Keds, a vodka company and 1,300 pairs of shoes to dodging bills and accusing a former accountant of ripping him off for millions of dollars.

"I've worked with musicians, artists and entertainers that in the eyes of the media are very wealthy," said lawyer Jason Gabbard, who represented a fashion firm that settled a suit against Dash and his wife over $148,505 in unpaid fees. "But to borrow a phrase from my Kentucky homeland, they haven't got a pot to p--- in - they're broke."

A Manhattan judge this week ordered the city to seize Dash's Chevrolet Tahoe, since he wasn't making the $714.99 monthly payment on the leased SUV.

That October suit came on the heels of one in August, when Eastern Savings Bank foreclosed on the $7.3 million mortgage for two trendy Tribeca condos where the monthly $78,504.26 bill went unpaid for months.

Dash faces an outstanding $2.1 million tab with the New York State Department of Taxation and Finance, a $4,500 bill from the state for not paying workers' comp and a suit that says he stiffed the law firm that handled his child-custody case.

Dash even got dumped by another firm representing him in a $3.5 million suit against accountant-to-the-stars Barry Klarberg, who is accused of bungling his tax returns, costing him millions.

"The suit is meritorious and we wish him well with it," said Harry Lipman of Rottenberg Lipman Rich.

Dash's descent into an MC Hammer-like financial abyss is a far cry from 2006, when he boasted about his butler and chef in New York magazine and said he was worth "about $50 million."

Dash, 37, did not respond to interview requests. Spokeswoman Amanda Silverman said in e-mails Dash "won all of his lawsuits."

The record proves otherwise.

Court records show Dash settled two suits accusing him of not paying rent on two Manhattan offices, as well as suits charging he owed big bucks to fashion designer Charlotte Ronson, the fashion firm Showroom Seven and a security company that guards celebs.

"Quite simply, he got behind on his payments and it was necessary to go after him legally," said Mike Zimet, whose Bronx security firm sued Dash in 2005 over an $86,547 tab. "If you do the work, you want to get paid for it."

I'm so tired of mf's being branded as "moguls" before they've even proven themselves long term. He had a good stretch, I'm sure pouring champagne on video girls was fun while it lasted.

mogul: an important, powerful, or influential person.

Was he ANY of that? Or just a dude who had money for a few minutes??

Is his wife's business in the tank too?

the thing that pisses me off most of all is that everytime one of these cats goes "bankrupt" and i read about them, they NEVER ARE PAYING THEIR TAXES!!! Why arent this mf's in fucking prison for this? One year i had to pay $12 and i forgot to send the check in and then i got a letter saying if i didnt pay by a certain date that they would prosecute...12 freaking dollars and they were going to take me to court, and these mf's have never paid their taxes from day one.

He won't get any sympathy from me. He better beg Jay-Z for a job.

OoOoOoo Dang.

only two things come to mind when i think of DD and that's arrogant & bastard.

i still want to get with his 'cuz Stacy dash though.

i think its sad when people who once were "on top" and felt like they had "everything" or losing it all minute by minute. sure, I use to think that he was this arrogant person in Jay-Z's shadow, but its still sad when I hear that people are "broke" and in thousands of dollars in debt. maybe i just have a soft heart for people when they are in tough situations. I do hope that Jay can at least give him some advice on how to come out of his mess if he isn't able to help him himself.

He's not the first and certainly won't be the last from the hip hop era...these guys spend money like it has an expiration date..lest you forget Jay said it best

I heard motherf$#@#s saying they made Hov
Made Hov say, "Ok so, make another Hov"
N^%$#@z wasn't playing they day role
So we parted ways like Ben and J-Lo
I shoulda been did it but I been in a daze though
I put friends over business end of the day though
But when friends, business interests is day-glow
Ain't nothing left to say though
I guess we forgot what we came fo'
Shoulda stayed in food and beverage
Too much flossing
Too much Sam Ralstein
I ain't a bitch but I gotta divorce them
Hov have to get the shallow shit up off him
And I ain't even want to be famous
N@##$z is brainless to unnecessarily go through these changes
And I ain't even know how it came to this
Except that fame is
The worst drug known to man
It's stronger than, heroin
When you could look in the mirror like, "There I am"
And still not see, what you've become
I know I'm guilty of it too but, not like them
You lost one

I saw him on MTV cribs where he claimed he only wore new socks, wore them once and then ditched them. I thought that showed what a prize f##kwit he was then! Talk about wasting money, and that's only a very monor thing!

If ever anyone had it coming.....

what goes around comes around. how come these cats that came from poverty start to spend like morrons and bragg about it .

Good! If these fools aren't smart enough to manage their money properly,let them go broke.You know how the old saying goes...

A fool and his money are soon departed

good. don't feel sorry for him at all. he did it to himself, overspending and not paying bills. what did he think would eventually happen?