Yoooooo! This economy is wreakin' havoc all over the industry! Former hip-hop heavyweight, Damon Dash is the latest to bow down to King Recession! Read the story and be thankful for your blessings, okay? LOL! But on the real, what happened to that $4 Billion dollar deal he and his wife Rachel were supposed to be doing with that clothing company? Hmmm. Suspect.
A bank is suing Damon Dash for allegedly dashing away from his mortgage.
The hip-hop mogul failed to pay Eastern Savings Bank $78,504 in monthly payments for a pair of trendy Tribeca condos from January to August, the bank claims.
Now the bank is warning Dash that he's in danger of losing his apartments in the Sugar Warehouse on Laight St. and in the Atalanta on North Moore St. unless he comes up with the cash in a hurry.
He's also facing more than $10,000 in late fees on the $7.3 million cross-mortgage that covers both properties.
"Damon Dash and [model wife] Rachel Roy have failed to comply with the terms and provisions of the said mortgage," the suit charges.
The lawsuit points out that Dash, who co-founded Roc-A-Fella Records with Jay-Z, has a long history of not paying his bills.
The suit, filed in Manhattan Supreme Court, cites numerous judgments against Dash in which he was ordered to pay more than $2 million in New York state taxes, more than $100,000 in federal taxes and $95,000 in unpaid rent to the landlord of the W.39th St. building that houses Damon Dash Enterprises.
A spokeswoman for Dash did not reply to requests for comment, and a lawyer for Eastern Savings Bank declined to comment.
Dash last year sued his accountant for allegedly costing him millions of dollars by filing faulty tax returns.
Lil Romeo all grown up. This cutie turned 19 yesterday. All my cougars, this one is for you! A little jit in your life never hurt! LOL!
Jermaine Dupri closed his restuarant ,Cafe Dupri, down in the ATL. They say his employees were not given notice or payments. Workers had been complaining about bounced check and insufficient funds notices. Uh Oh. DRAMA!! But yo, check out what Mama Dupri (Tina Mauldin) said to defend her son: Maybe if the employees had worked harder, Cafe Dupri would still be open. LOL! Right!
Ladies, I don't know how ya'll feel but, Ice Cube could still GET IT IN!! OK!! LOL! Thug me out, baby! Hahahah!
