The New York state government has purchased Dame Dash‘s one-third share of Roc-A-Fella Records in an attempt to recover the $8.7 million USD the co-founder owes in back taxes.
New York Post reports that an unnamed Albany rep made the $1 million USD creditors bid during the federal auction, overtaking two other anonymous bidders who named their prices at $223,00 USD and $250,000 USD. It remains unclear how the state plans on recouping the millions owed by Dash, however.
In addition, New York City is also demanding over $193,000 USD in unpaid child support from Dash over the past few months, which will be paid by the bid money.
Attorney Chris Brown, who is representing two people who Dash supposedly owes money, said, “The auction is over but the work is not complete.” He continued, “Mr. Dash’s legacy is now New York state property. I will work with New York state and New York City as the next phase of ownership of the shares.”
The city of New York also wrote a letter to the court shutting down JAY-Z’s previous ownership claims over Reasonable Doubt, one of Roc-A-Fella’s main assets that will allegedly be given back to him in full in 2031. “JAY-Z has issued widely publicized statements warning potential bidders that copyright ownership will revert back to him in 2031,” the letter obtained by All Hip-Hop read. “Those statements are false and extremely damaging to the City’s interests in ensuring that the auction will generate sufficient funds to satisfy all existing child support arrearages and secure future child support payments.”
