Binside TV: DAMON DASH

It looks like mogul & Rocawear co-founder,Damon Dash,who was Jay-Z's former business partner has now lost it all. The New York Daily News had reported that the multi-millionaire was broke. Dame's wife designer Rachel Roy filed for divorce. Damon was reportedly trying to breakup with Rachel before the birth of their second child. Watch an episode of A Fashion Show with Patrick McMullan: Rachel Roy. The celebrity photographer, Patrick McMullen stopped by Rachel Roy's presentation. Damon Dash seemed happy for his wife and proud of his family.

He's got no money, but he sure does have mo' problems.

Roc-A-Fella Records and Rocawear co-founder Damon Dash has been slapped with divorce papers by wife Rachel Roy, the Daily News has learned.

The stunning fashion designer piled onto Dash's already sizable stack of lawsuits when she filed for divorce from her husband of four years this month in Manhattan Supreme Court.

Ed Hayes, a lawyer for Roy, declined comment, and a Dash spokeswoman did not return calls or e-mails.

An electronic record of the case says the divorce is for "nonmonetary relief" and should be resolved by February.

Dash and Roy, who put her own name on a women's fashion line, got hitched in Mexico in January 2005. They met when Roy was working at Rocawear and have two daughters.

The breakup is the latest legal mess for the has-been hip-hop titan, whose empire - which he once pegged at "about $50 million" in a New York magazine profile - has crumbled under massive debt, bad business deals and one suit after another.

Dash, who in 2005 sold his stake in Rocawear to Jay-Z for $20 million, owes $2 million in state taxes, and a bank has started foreclosure proceedings on his two Tribeca condos.

A Manhattan judge even ordered the city to seize his luxury Chevrolet Tahoe SUV last year when he couldn't make the $714.99 monthly payment. He's also being sued by law firms and landlords for not paying his bills.

The fall has been a spectacular one for Dash, who sipped Champagne on a yacht in Jay-Z's video for "Big Pimpin'" - then emptied his bottle of bubbly onto bikini-clad beauties in a hot tub. [NYDN]