News: Dame Can't Dash From Tax Man, Roc-A-Fella Co-Founder Owes $3 Mil
Monday, Jul 25, 2011 3:45PM
Roc-A-Fella co-founder Damon "Dame" Dash has made headlines for financial woes as reports claim the music mogul owes the government approximately $3 million dollars.
According to reports, a lien against Dash was filed by the Internal Revenue Service (IRS) in late June.
Hip-hop tastemaker Damon Dash, the Roc-A-Fella Records and Rocawear Clothing exec, dashed from yet another tax bill, according to the feds. The IRS just filed a nearly $3 million tax lien against the music and fashion impresario. The bill adds to the 40-year-old Dash's notorious status among tax collectors. The IRS filed a $2,984,364 lien against Dash on June 30 with the New York City Register's Office. (Detroit News)
In the past, Dash blamed his financial issues on taking care of his associates before himself.
"My mistake was watching everyone else's careers and not watching mine," Dame explained. "After being able to settle my wife's company, I was able to start doing other things. My first approach was the music business and getting with Jim Jones. At first I wanted to help him because I've known him since he was young and me listening to the album and thinking it was really good. I thought it deserved to be heard outside of the urban market. So I spent the last six months doing research, trying to figure out how to use all my resources to blow this out...I'm not in the community like I used to be. I just know that good records sell. But I also know I don't depend so much on record sales; I depe
In 2010, Dash discussed his money troubles and blamed the media for building too much hype around the matter.
"I started to go through a lot of bad press all of a sudden," he explains of the period following the sale of his shares in Roc-A-Fella Records and Rocawear Clothing. "Like, the recession hit everybody, but me being a businessman and motherf*ckers getting caught up in the storm, all my issues were completely public. And completely exaggerated. So the recession sh*t happens, I don't give a f*ck." (YRB Magazine)
A year prior, Dame explained his addiction to achieving financial success.
"I have fun everyday," Dash said about his life post-Roc-A-Fella. "The problem is, I think people take themselves a little bit too serious. I'm happy to be a part of history so many different times in so many different ways. I'm from a place where you have your ups and your downs. That's not really what I'm concerned about. It don't matter. I'm Dame Dash broke, I'm Dame Dash not broke -- I'm Dame Dash when I got some money. But we also know that when Dame Dash got some money, he's putting it into his businesses. I am a cake-aholic. My quality of living never really changes, ever! I've never had to sacrifice or compromise. Y'all actually seen a lot of my tragedies," Dash said. "I know what real pain feels like. Y'all seen me cry...All this other stuff, because these people wanna sell papers and say things, I don't care about that. I don't defend myself." (MTV)
Check out some past Dame Dash footage down below: