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40 and Broke........ and now divorced.
[h1]Hip-hop flop Damon Dash's wife Rachel Roy files for divorce[/h1]
BY Jose Martinez
DAILY NEWS STAFF WRITER
Tuesday, March 24th 2009, 4:00 AM
Record producer Damon Dash and Rachel Roy attends the Metropolitan Museum of Art Costume Institute Benefit Gala: Anglomania at the Metropolitan Museum of Art.
He's got no money, but he sure does have mo' problems.
Roc-A-Fella Records and Rocawear co-founder Damon Dash has been slapped with divorce papers by wife Rachel Roy, the Daily News has learned.
The stunning fashion designer piled onto Dash's already sizable stack of lawsuits when she filed for divorce from her husband of four years this month in Manhattan Supreme Court.
Ed Hayes, a lawyer for Roy, declined comment, and a Dash spokeswoman did not return calls or e-mails.
An electronic record of the case says the divorce is for "nonmonetary relief" and should be resolved by February.
Dash and Roy, who put her own name on a women's fashion line, got hitched in Mexico in January 2005. They met when Roy was working at Rocawear and have two daughters.
The breakup is the latest legal mess for the has-been hip-hop titan, whose empire - which he once pegged at "about $50 million" in a New York magazine profile - has crumbled under massive debt, bad business deals and one suit after another.
Dash, who in 2005 sold his stake in Rocawear to Jay-Z for $20 million, owes $2 million in state taxes, and a bank has started foreclosure proceedings on his two Tribeca condos.
A Manhattan judge even ordered the city to seize his luxury Chevrolet Tahoe SUV last year when he couldn't make the $714.99 monthly payment. He's also being sued by law firms and landlords for not paying his bills.
The fall has been a spectacular one for Dash, who sipped Champagne on a yacht in Jay-Z's video for "Big Pimpin'" - then emptied his bottle of bubbly onto bikini-clad beauties in a hot tub.
"He's broke, he's got nothing left," a source said.
Dash debuted last year as a theater producer with the "Hip-Hop Monologues," an Off-Broadway account of the life of his latest protégé, rapper Jim Jones.
The production is set to resume performances tonight at 37 Arts in Manhattan.
While he may have been short on cash, Dash wasn't short on confidence when he hyped the show in New York magazine and vowed to make a splashy return to the music business.
"And when I come back, I'm gonna change the economy as well," he said.
"It was all good just a week ago"
Dame doesn't have anyone to blame but himself. Living the lavish life and your income generating level is insufficient you will always be in the situationhe finds himself in.
