Damon Dash is broke. A judge issued an order to seize his Chevrolet Tahoe truck. The court order came after a company filed a claim that said Damon Dash failed to keep up with his $714.99 monthly instalments.

Jason Gabbard, a lawyer who had fought a fashion firm’s lawsuit against Damon Dash, knew about Dash’s financial status. Gabbard won $150K settlement for his client and said Dash and his wife, Rachel Ray, were broke.

Damon Dash owes $2.1 million to the New York State Department of Taxation & Finance, $4500 for unpaid workers’ compensation and a lawsuit from a lawyer who claimed he was unpaid for Dash’s case involving his child-custody issue. Dash supposedly had to pay a big sum to fashion designer Charlotte Ronson, the twin sister of Samantha Ronson (Lindsay Lohan’s girlfriend). Dash also owes a security company for protection services.

Rachel Ray made a fashion deal worth $4 billion with Jones Apparel Group. Dame, of Jones Apparel Group, thought that Rachel Ray’s company was worth at least $4 billion in order to be able to sign such a huge deal. The details are at the link. The house of cards may have tumbled.

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This entry was posted on Friday, November 14th, 2008 at 5:56 pm and is filed under News.