Dame Dash Faces Risk of Losing Engagement Ring & Jewelry Over $825K Debt
Dame Dash, the famed entrepreneur and co-founder of Roc-A-Fella Records, is facing serious financial turmoil as he struggles to pay off an $825K debt to movie producer Josh Webber. The debt stems from a long-running legal battle involving copyright infringement and defamation, with Webber now targeting Dash’s personal assets to recover the owed amount, including his engagement ring and other valuable jewelry.
Dame Dash’s Financial Woes: The $825K Debt and Legal Struggles
In January 2023, Josh Webber and his attorney, Christopher Brown, filed a letter with the court demanding that Dame Dash’s engagement ring be auctioned off to satisfy the judgment. According to the letter, Dash’s engagement ring, a symbol of his relationship with fiancée Raquel Horn, is now considered part of his assets that are up for grabs. The ring was discussed in a December 2021 AllHipHop article where Dash expressed his love for Horn, stating that although they had both already “asked each other to marry” multiple times, his financial troubles had delayed their official engagement.
Brown’s letter to the judge highlights that Dash’s engagement ring is now considered part of the assets that can be auctioned off to pay the mounting debt. Despite Dame’s emotional attachment to the ring, it now faces the very real risk of being sold to settle his legal obligations.
The Legal Battle: Copyright Infringement and Defamation
The legal battle between Dash and Webber dates back to 2016, when Dame Dash was removed from the movie project “Dear Frank” after being deemed unfit to direct. Webber and Muddy Water Pictures claimed that Dash was frequently under the influence on set, leading to his removal. The producers eventually completed the film without Dash and later sued him for copyright infringement and defamation. They accused Dash of attempting to pass the film off as his own, changing the title to “The List” and even distributing promotional materials to networks like BET.
Dame Dash, on the other hand, argued that the film was shot on his property with his equipment, and the footage was improperly taken from him. Despite Dash’s defense, the jury sided with Webber in 2022, ruling against the former mogul.
Auctioning of Roc-A-Fella Shares and Other Assets
Dame Dash’s financial struggles have also led to the auctioning off of his 33.3% stake in Roc-A-Fella Records to satisfy his massive debt. However, even after the sale of his shares for $1 million, Dash’s debts remained unpaid, leaving Webber with nothing. In addition to the $825K owed to Webber, Dash faces multiple lawsuits, including one from photographer Monique Bunn, and an $8 million tax debt to the state of New York.
Despite the setbacks, Dash continues to fight for his assets, including his media company Poppington, LLC, and the copyrights to films he has produced. His legal troubles are far from over, and it remains to be seen how much more of his personal and professional assets will be claimed to cover the outstanding debts.
The Road Ahead for Dame Dash
Dame Dash’s financial difficulties are a stark contrast to his earlier success in the entertainment industry. With his assets at risk and a slew of ongoing lawsuits, the former mogul faces an uncertain future. However, Dash remains determined to protect his remaining assets, including his engagement ring, from further legal action.
