Posted by Bossip Staff
Apparently Dame Dash’s 4 Billion Dollar Rachel Roy funds haven’t kicked in just yet:
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.
Damn Dame, that financial turmoil is a mfer.