Music mogul Damon Dash sues fashion designer ex-wife Rachel Roy for ’embezzling funds’ for clothing line
MUSIC mogul Damon Dash is reportedly suing his ex-wife Rachel Roy for “embezzling funds” for her fashion line.
The former couple – who married from 2004 to 2009 – are already involved in a bitter dispute about unpaid child support, and now the Damon claims that Rachel Roy Brands have been “hiding the amount of money Damon is due.”
According to TMZ, the co-founder of Roc-A-Fella records believes that Rachel has “conspired” with several other companies to “manipulated, diverted, misappropriated, transferred, concealed and embezzled funds.”
Damon was married to Rachel when she formed the company in 2008 and was an original member, meaning he is entitled to royalties.
According to TMZ, Jay-Z’s former business partner claims Rachel’s company has allegedly “submitted fraudulent accounting, withheld payments and undervalued Damon’s share of RRB.”
He claims issues began with a withheld payment in 2014 and reportedly happened again in 2015.
The music executive also claims to have had a verbal agreement with Rachel that she would buy his interest in the company for $1 million – but the deal fell through with “no explanation”.
Damon has launched the suit against Rachel, her companies, accountants and lawyers who he claims are involved in the matter.
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He was released after he went to a Manhattan court and paid a debt of about $1 million for an outstanding warrant.
In December, a lawyer for Roy and Morales asked a New York City court to approve an arrangement that would take out the owed child support from an incoming settlement Damon is set to receive from Empire creator Lee Daniels over a separate matter.
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