Dame Dash Uses Lee Daniels’ Settlement Money to Pay Off $400,000 Debt: Report
It looks like Dame Dash is putting the $5 million settlement money he got from Lee Daniels to good use.
According to a report The Blast published yesterday (Jan. 21), the former Roc-A-Fella executive paid off a $400,000 debut he owed to a company by the name of Kerison & Willougby Capital. A judgement requiring Dash to pay the company that amount was handed down in 2011.
The terms of Dame's deal, which was struck back in November, indicated that “monies owed to Dash from a third-party are being paid” to Kerison. In the docs asserts that he satisfied the debt “through his own exclusive efforts” and wants the court to order that everything has been paid in full.
Kerison & Willougby Capital had previously tried to sell off interest in Dame's company with ex-wife Rachel Roy to satisfy the debt, but now everything is handled.
As we mentioned above, Dame was able to use the money Daniels paid him for allegedly lending the then-aspiring director $2 million to fund a Richard Pryor biopic and had not been paid back. According to their 2015 agreement, Dash was supposed to get a co-executive producing credit on the Pryor project in addition to five percent of the earnings.
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