Tuesday, August 16, 2022

Damon Dash Accuses Ex-wife (Rachel Roy) of Fraud; Sues Her Over Fashion Business

Designer Rachel Roy attends The Museum of Modern Art Film Benefit presented by CHANEL: A Tribute to Julianne Moore at MOMA on November 13, 2017 in New York City.
(Nov. 12, 2017 – Source: Andrew Toth/Getty Images North America)

*Damon Dash is suing his ex-wife, Rachel Roy, for fraud, claiming she is hiding money from her fashion business that is rightfully his. 

TMZ reports that Dame is unhappy with his cut of the profits from Rachel Roy Brands, several lines are sold in Bloomingdales and similar department stores. Dame claims the company is earning profits in the millions each year and he wants a bigger slice of that pie.

According to docs, obtained by TMZ, “Dame claims Rachel conspired with several other companies involved in keeping RRB afloat … to hide the amount of money that was due to go in Dame’s pockets,” the outlet writes. 

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Damon Dash and Rachel RoyHe claims they “manipulated, diverted, misappropriated, transferred, concealed and embezzled funds.”

Dame accuses his ex-wife and her company of submitting fraudulent accounting and without payments. He also says his share of RRB was undervalued, noting he was an original member of Roy’s company when she formed it in 2008, and since they were still married then he’s entitled to royalties, the report states. 

Via TMZ:

Far as Dame can tell, the alleged shell game with his money started in 2014 when a royalty payment of $175,000 was withheld. He claims that happened again in 2015 with a $200,000 check.

In the suit, Damon says he had a verbal agreement with Rachel that she would re-purchase his interest in RRB for $1 million — but she reneged with no explanation.

Dame believes Rachel, her companies, accountants, and lawyers conspired against him — so he’s suing them all. 

As for how much? Dash says they need to review the books, so he can determine exactly what he’s owed.

 

Ny MaGee
Ny MaGee is an entertainment reporter with over 15 years of experience working in the film industry in areas including production and post-production, marketing, distribution, and acquisitions. She has worked for legendary film producer Roger Corman, Quentin Tarantino's production team at Miramax, the late Larry Flynt, MTV/ VH1, Hallmark Channel, Paramount, Jim Henson Co., Parade Magazine, and various LA-based companies representing above-the-line talent.

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