J-Banks

Dame Dash Sued Over Missed Mortgage Payments
Published Wednesday, August 20, 2008 8:26 AM

By Roman Wolfe

Hip-Hop entrepreneur Damon Dash is being sued by Eastern Savings Bank, for missing the monthly mortgage payments on a pair of Manhattan apartments.

In a lawsuit filed in Manhattan Supreme Court, Dash has failed the $78,504 monthly note for the apartments since January.



According to The New York Times, Dash is in danger of losing the apartments, which are located in the trendy Sugar Warehouse and in the Atalanta.



Dash, who founded Roc-A-Fella Records with Jay-Z in 1996, also faces over $10,000 in late fees on the $7.3 million mortgage.



The lawsuit also cites a number of judgments against Dash, including a $2 million tax bill owed to the state of New York, $100,000 in federal taxes and $95,000 in unpaid rent to house the offices of Damon Dash Enterprises.



In April of 2007, the mogul filed a $3.5 million dollar lawsuit against his accountant and former bookkeeper, famed financial advisor Barry Klarberg.



Dash accuses Karlberg and his firm Loring Ward, which represents over 600 entertainers and athletes, for allegedly mishandling his 2000, 2001 and 2002 tax returns.



The news of Damon Dash's financial woes comes as Jay-Z, his former partner, was named one of the top three earners in Hip-Hop for 2008, netting over $82 million.

Source: allhiphop

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