Dame Dash, co-founder of Roc-A-Fella Records, is facing the auction of his stake in the legendary label by the U.S. Marshal to cover an $800,000 debt owed to movie producer Josh Weber. This debt stems from a lawsuit involving copyright infringement and defamation over the 2016 film Dear Frank.
According to HipHop DX, Dame Dash was initially set to direct Dear Frank but was removed from the project due to performance issues, including excessive marijuana use. Despite his removal, Dash allegedly continued to promote the film as his own, leading to the lawsuit and subsequent financial judgment in Weber’s favor.
Josh Weber’s lawyer is directly involved in the auction process. Interested buyers must email the lawyer to participate, and the auction’s terms are stringent. The minimum bid cannot be less than $1.2 million, and a deposit of 20 percent, amounting to at least $240,000, is required at the time of sale.
The auction includes notable assets, most prominently Jay-Z’s debut album, Reasonable Doubt. This stake in Roc-A-Fella Records represents not only a significant piece of hip-hop history but also a valuable opportunity for collectors and investors.
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