Damon Dash Faces $8.7 Million Tax Debt

Damon Dash, co-founder of Roc-A-Fella Records, faces a court-ordered auction of his one-third stake in the label due to significant financial troubles, including over $8.7 million in unpaid taxes to New York State. The state's Department of Taxation & Finance has filed a motion to intervene in the auction proceedings scheduled for August 29, asserting that the proceeds must first address Dash's tax debts, which have been delinquent since 2005. Additionally, Dash owes $823,000 to film producer Josh Webber from a lawsuit over a failed partnership and $145,096 in unpaid child support, with child services prioritized to receive auction proceeds. The auction's minimum bid is set at $1.2 million, and the primary asset being sold is Jay-Z's debut album, 'Reasonable Doubt'. Dash has publicly speculated on whether his former partner Jay-Z will attempt to buy him out, indicating further complications in the auction process. This situation underscores the financial strains faced by Dash and the urgency for various creditors to collect their dues.