News: Dame Can't Dash From His $3 Mil Problems, Mo' Money Woes Exposed
Monday, Jul 8, 2013 12:15PM
Former Roc-A-Fella Records owner Damon "Dame" Dash continues to make headlines for his publicized money woes as the latest reports claim he owes nearly $3 million to the government.
According to reports, Dame owes just over $2.8 million to Uncle Sam for taxes dating back to 2005.
Now, his financial problems have worsened. Uncle Sam filed a federal tax lien against Dash, claiming he needs to cough up some un-paid tax cash for the years 2005 and 2011. The breakdown: 2005: $2,614,918.10 2011: $187,544.20 Grand total: $2,802,262.30 ... i.e. a whole lotta cheddar. The 2005 bill is clearly larger ... which makes sense considering Hov and Dash parted ways back in 2004 -- meaning in 2005, he was probably still raking in some major-taxable bucks. 2011 ... not so much. FYI -- Dash has said he owes millions in back taxes to the State of NY and NJ and claims he's lost multiple properties to foreclosure. (TMZ)
Back in May, the rap executive said he could not afford his current home payments.
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. (New York Daily News)
To make matters worse, late rapper Ol' Dirty Bastard's son recently said he had a bone to pick with Dame.
During a recent radio interview on Shade 45, Ol' Dirty Bastard's son, Young Dirty Bastard, lashed out at the former Roc-A-Fella Records CEO, claiming he is currently withholding an album's worth of material and rights to his father's music, who was last signed to the label prior to his death in 2004. "Tell Dame Dash that I'm looking for him and I want those masters back right now," the 24-year-old demanded to hosts J.Medina & Money Nels. "Why we gotta go through the courts when we could do this man-to-man. We need to build about it and let's get this thing right. He got my father's songs and I want them back...he had a nice size album and I want it." (Huffington Post)
A month prior, the New York native downplayed his publicized money woes.
"It depends on what you perceive as a win or a loss," Dame said in an interview when asked to address speculation of his finances and businesses crumbling. "To me, the minute I make $20 million, I put it all back in the street. That's just what I do, there's no fear in it. ... I think the difference between me and everybody else is when I have tax problems, it's in the paper. When other people do, it's not. I don't really care. So whatever perception is, it doesn't really bother me. It's all about quality of living. My quality of living has never been compromised. Ever. I got galleries all over the world, how could I be [a wrap?] I'm like, 'D*mn, I did star Rachel Roy and sold half of it to Jones New York.' I don't see anybody else doing that right now. I've done so many other things, I just have not tried to advertise it so I guess people's perceptions are different. ... I know so many businessmen who are never known for what they're doing. I know billionaires that ride coach. ... Everybody I know with real money is low, is low-key." ("The Combat Jack Show")