Dame Dash’s Entire Stake in Roc-A-Fella Records to Be Auctioned
Dame Dash‘s entire stake in Roc-A-Fella Records is about to be auctioned off by federal authorities.
Dame Dash to Have Roc-A-Fella Stake Auctioned Off
On Thursday (Aug. 1), documents obtained by XXL show that Dame Dash’s 33.3 percent stake in Roc-A-Fella Records, which he co-founded with Jay-Z and Kareem Burke, will be auctioned off by U.S. Marshall’s on August 29 in New York City. The auction is related to film director Josh Webber, who filed suit against Dame for copyright infringement back in 2019 and won over $800,000 in a civil judgment against the music executive. The suit revolves around the 2019 film Dear Frank, which Webber claims Dame was promoting as his own despite being kicked out of production.
Interested bidders will first have to register for the auction in Manhattan by e-mailing Webber’s attorney Christopher Brown. The minimum bid for the stake cannot be less than $1.2 million, and any interested bidder must be able to throw in a $240,000 deposit at the time of sale.
Read More: Dame Dash Tells the Shocking Story of Slapping Steve Stoute
Dame Dash Ordered to Pay Six-Figure Judgement
In September of 2022, Dame Dash was ordered by a judge to pay Webber $705,400 plus $117,884.71 in legal fees. While Dame didn’t oppose the move, Webber had to press for Dame’s assets to be confiscated in order to settle the debt.
“Within 180 days of the U.S. Marshal’s receipt of the Dash Ownership Interest and any corresponding certificate, the Marshal shall sell the Dash Ownership Interest at public auction,” the court filing read at the time.
According to docs obtained by XXL, Jay-Z and Kareem “Biggs” Burke, who own the other two-thirds of Roc-a-Fella, pushed back against the sale.