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Hip-Hop News: Jackson Owes Rap Moguls Cousin
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Posted by Dave
Rap News Network
7/14/2005 10:58:42 AM

Tags and topics realted to this article include Damon Dash.

So, about that company claiming Michael Jackson owes 'em $48 million. We told you on Tuesday about Prescient Acquisitions' supposedly unpaid bills after helping Jackson hold on to his Beatles catalog and refinance his debt. But Fox's Roger Friedman, ever the diligent researcher, had some questions about this company.
 
But who or what is Prescient Acquisitions? There are no phone numbers listed for it in New York or New Jersey.

Furthermore, records from the New York State Division of Corporations show that the company was only formed on March 11 of this year — some five months after its lawsuit claims it went to work for Jackson. There is no other information about the firm available.
 
[Prescient attorney Steven] Altman, to make matters more confusing, refuses to say who the principals in the company are.
 
But I am told that Prescient is in fact the holding company of one person, Darien Dash, first cousin of hip-hop entrepreneur Damon Dash and sister to actress Stacey Dash.
 
Darien, meanwhile, is a dot-com bust survivor, who somehow convinced Michael's brother Randy to let him handle the financial negotiations. But even those transactions remain a little murky: Prescient managed to get Fortress Investments to buy Jackson's $270 million Bank of America loans and cut the singer a $3 million check (another loan), but the song catalog will still have to be dealt with in December.
 
Which means, uh, Michael owes Darien Dash $48 million for a few months of delays.

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