Damon Dash Ordered To Use Roc-A-Fella Auction To Pay $8.7M In Back Taxes
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Former Jay-Z business partner Dame Dash co-founded Roc-A-Fella Records with Jay and Dash’s fellow Harlem entrepreneur Kareem “Biggs” Burke in 1994. For the moment, Dash still owns a one-third stake in Roc-A-Fella. Later this month, Dash plans to auction off his share in the company so that he can pay the $823,000 that he owes to film producer Josh Webber. (Webber successfully sued Dash over a failed film partnership.) Dash also owes about $145,000 in unpaid child support. Now Billboard reports that Dash also owes $8.7 million in taxes.
According to Billboard, tax authorities claim that Dash “owes more than $8.7 million in unpaid taxes and penalties from personal income he reported from 2005 and 2018.” In their legal request to interfere with the auction, lawyers for New York’s Department of Taxation & Finance write, “Intervening in this matter may be the Department’s only opportunity to collect some of the unpaid taxes Dash owes to New York.” (The state claims that Dash’s unpaid child support should get first priority.) The US Marshals Service will hold the auction 8/29 at a Manhattan hotel.
Yesterday, Billboard reported that Damon Dash went on Instagram Live, claiming that Jay-Z and Kareem “Biggs” Burke held an emergency meeting to figure out how they could prevent him from selling. Dash also publicly wondered whether Jay-Z would make a bid to buy him out: “I don’t know how deep homie’s pockets is. I’m curious if he’s gonna match that. I put an offer on the table; let me see if he’ll match it.” Dash also promised his original Roc-A-Fella chain to anyone who pays over $10 million for his stake.
If there’s any auction money left over after Damon Dash’s debts are settled, he reportedly gets to keep it. At this point, though, it feels like he won’t be able to do the Dame Dash bottle dance without some debtor emerging from the shadows to seize his champagne.
