This Recession Is Not A Game
Aug 20 | by Natasha
"Ballers" everywhere are getting exposed by this recession. Folks everywhere in the industry are getting their homes foreclosed on, businesses shut down, and loans revoked. When you spend beyond your means and believe your own hype, it all falls down when gas prices go up. And Dame Dash and Jermaine Dupri look like the two latest victims: According to the International Herald Tribune, Dame Dash had two of his Manhattan apartments foreclosed on. This past Monday, papers were filed in the New York court system stating that Dame and his "wife" Rachel owe $7.8 million in mortgage mula. Yes, you read that number right. $7.8 million. Apparently their mortgages were a hefty $785,500 a month. But sources close to the Dash camp tell TheYBF.com that Dame hasn't been the true owner of those apartments in years, nor has he lived in them in years. They also say hismoney is far from funny. While he holds the deeds to the places in name, it was actually the unnamed management company of the apartments who haven't been paying on time. Dame didn't even know about the issue until this ish hit the fan. And seeing that he owns 5 residences, 3 of which are in New York and the ones he actually resides in are doing just fine, it looks like the money issues may not be his per se. And the Dash name was possibly just used by the bank to bring attention to the matter. Time will tell... Down in the ATL, Jermaine Dupri's restaurant Cafe Dupri, which he opened back in '05, closed suddenly last week. And apparently, workers found out along with everyone else and were left unpaid and jobless. In fact, workers had been complaining that their checks kept bouncing and hadn't been paid in weeks. According to media sources, "Dupri's mother Tina Mauldin, who was managing the restaurant, told Channel 2 Action News that closing the Cafe was a 'business decision' and that if employees had worked harder Cafe Dupri might still be open." Damn. Rough times all around.
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