h, yes, the downward spiral!
A familiar place for celebs who rise to fame too fast to figure out how to manage their money.
The spiral has now claimed Damon Dash, who was once a rather prominent hip-hop mogul with a hand in everything from record labels, to clothing lines, to films, vodka, and night clubs.
His empire has all come crashing down in a wave of lawsuits pushing Dash for money long-owed and yet to be paid.
Pay up, player!!!!
In 2006 Dash bragged about his butler and his chef, owning 1,300 pairs of shoes, and being worth "$50 million."
How quickly it goes!
2 years later, Dash is losing his SUV, two Tribeca condominiums, and has got a few people pissed for not paying up, including the state of New York, to which Dash owes $2.1 million in taxes.
His lawyer has dropped him as well, for not coughing up legal fees. And Dash is positively buried in lawsuits at the moment.
Attorney Jason Gabbard - who represented a fashion firm in a suit against Dash and his wife over $148,505 in unpaid fees - put it nicely and succinctly, "I've worked with musicians, artists and entertainers that in the eyes of the media are very wealthy, but to borrow a phrase from my Kentucky homeland, they haven't got a pot to piss in - they're broke."
Ouch!
An email from Dash spokeswoman Amanda Silverman said that he had "won all of his lawsuits."
source perezhilton.com
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