Record executive and Roc-A-Fella Records co-founder Damon Dash has filed for Chapter 7 bankruptcy, claiming that he’s in dire financial straits and has only $100 in cash.
Per TMZ, Dash, who was a close associate of Jay-Z before they had a fallout, stated in court documents that his creditors range from one to 49. The 54-year-old also stated that he has $4,350 in assets and spends $5,200 in monthly expenses. Dash additionally stated that his liabilities amount to $25,303,049.47.
Dash said that his creditors include Josh Webber of Muddy Water Pictures LLC. The 54-year-old was ordered to pay Webber $4 million after he filed a defamation lawsuit against him.
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Dash also has to get his records right with the IRS and state tax departments. Despite his situation, Dash named former Roc-A-Fella Records partner Kareem “Biggs” Burke as his debtor, though the amount owed to him was not disclosed. He also said that he has reasonable cause to get Chris Brown, Claudia Jordan, Webber, and many others to give him money.
Despite Dash’s current financial situation, he’s still pursuing other business endeavors as he has been granting interviews to promote his projects.
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