After the media caught wind of Damon Dash’s financial problems and his wife leaving him because of them, he decided to tell his side of the story. Dame says that he is broke because he got caught up making sure people around him were succeeding and lost track of his own finances.

As previously reported, the former mogul is facing foreclosure on his two properties in the trendy TriBeca area of New York and reportedly owes $2 million in state taxes, among other debts.  He tells Billboard.com, “My mistake was watching everyone else’s careers and not watching mine.”  

Rachel Roy, his wife of four years, filed for divorce earlier this month. Dame helped her launch her own women’s fashion line and also helped the now successful Jim Jones, which he says is another reason why he didn’t spend enough time on his own projects.       

Dame adds, “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… I spent the last six months doing research, trying to figure out how to use all my resources to blow this out.”

More on Damon Dash Billboard Interview

Damon Dash had a unpleasant suprise waiting for him. His wife of four years, Rachel Roy, served him with divorce papers. According to court documents, the divorce is for “nonmonetary relief” and should be resolved by February. Meaning she knows she won’t get any money, and just wants to be RELIEVED from of his broke ass! LOL. Poor Dame!

The divorce will just add on to his latest legal mess which consist of massive debt, bad business deals and one suit after another. According to NY Daily News, Dash, who in 2005 sold his stake in Rocawear to Jay-Z for $20 million, owes $2 million in state taxes, and a bank has started foreclosure proceedings on his two Tribeca condos. A Manhattan judge even ordered the city to seize his luxury Chevrolet Tahoe SUV last year when he couldn’t make the $714.99 monthly payment. He’s also being sued by law firms and landlords for not paying his bills.

Damon Dash was spotted with his daughter, Tallulah, in New York City this weekend. She is soooo cute! I hope he saved a Trust Fund for his kids, because by the looks of his ripped/torn  jacket (look closely), I think Dash is really broke! Yikes! You know he has been going through some financial troubles!

Damon Dash and his wife Rachel Roy welcomed baby Tallulah Ruth on May 13th of last year!

Last week I reported that Damon Dash’s son, Boogie, DJ’d at a nightclub called The Plumm in New York on New Years Eve. Well, his mother isn’t to happy about it since he is only 17 years old. There is drama brewing between Damon Dash and his ex-girlfriend/baby momma, Linda Williams again. This time its about Dash not enrolling his son in school. According to Page Six, Boogie had lived with Dash in Manhattan since he was 8 and attended the Upper West Side’s Dwight School. He then moved to his mother’s Long Island home last summer to enroll in a school that fielded a football team. Last month, the teen went back to live with Dash, and Williams now says his father “refuses to enroll him back in school.”  “Out of the blue, my son tells me he wants to live with his father,” Williams told Page Six. “He left here Dec. 2 and hasn’t been in school since.” (more…)

Photographer Moises De Pena sent me some X-clusive pics of Damon Dash and his son Damon “Boogie” Dash, Jr celebrating NYE at The Plumm in New York. Boogie was the DJ of the night and Damon Dash looked so proud of his son.  This was Boogie’s first major DJ gig! Is Boogie even 18 yet? Other guests who showed up were, EthanBrowne son of Jackson Browne, Jermy Dash, porn-star Heather Hunter, Fashion Designer Dwane Rich, Felix Ortiz III, and others. Check out the pics! (more…)

Damon Dash must really have nothing better to do since he is broke and pratically unemployed. Jay-Z’s former business partner, Damon Dash, is speaking out in the December issue of Complex Magazine saying that Kanye West “hated Jay-Z.”

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New York Daily News has confirmed that Dame Dash is officially broke. The bank is requesting that he turnover his Tribeca condoes, and the city is seizing his SUV. Additionally, his lawyer has dropped him because he has not paid any of his legal bills. Dash, the former co-found of Roc-A-Fella Records and Rocawear, may need to ask Jay-Z for a loan. He is under pressure from the Manhattan Supreme Court from lawyers, lenders and landlords who are suing him for not getting paid.

“I’ve worked with musicians, artists and entertainers that in the eyes of the media are very wealthy,” said lawyer Jason Gabbard, who represented a fashion firm that settled a suit against Dash and his wife over $148,505 in unpaid fees. “But to borrow a phrase from my Kentucky homeland, they haven’t got a pot to p— in – they’re broke. (more…)

(Dame Dash and his son, who is a young DJ, pictured above)

Linda Williams, Dame Dash’s baby momma, has still not allowed her son to see his father. Now, Dame Dash says that his son, Boogie, has been missing for two weeks now. The whereabout of Williams and Boogie are unknown, and now a Manhattan judge has issued an arrest warrant for Linda Williams. (more…)

Linda Williams, the mother of Damon Dash’s son, Boogie, has not allowed him to see his son for a couple of months. Damon Dash’s lawyer has filed amotion to make Linda bring their son to court immediately. Williams has made claims that Dash has not been taking care of his responsibility even siting that there is no running water or electricity in the home she lives in with Boogie. Dash continuously denied all claims brought on by his baby’s mother!

Do you think Dame Dash’s baby momma is tellin the truth? I mean…no running water???

Leave us your thoughts.

Man, things are not looking to good for Damon Dash. While his former partner Jay-Z is doing big things and building a grand empire, Damon Dash is struggling. An analysis of Dash’s various holdings, which range from fashion to entertainment, turns up more misses than hits. Damon Dash’s clothing line with wife Rachel Roy has yet to launch. His reality show “Ultimate Hustler” came on for one season and got low ratings. According to his spokesperson, Amanda Silverman, Dash pulled the plug on his State Property apparel and his Damon Dash Music Group.  “Music is not where the money is,” she said. And whats even worse…Damon Dash’s money making deal with Pro-Keds has gone sour. The Pro-Keds brand has said that they are looking to take the company in a new direction. Dang Dam! Not that Dash is in the poor house, but he is “flying first class these days, not by private plane,” one friend said. (more…)