Damon Dash attends the Buckler by Andrew Buckler men's collection Fall 2012 presentation during Mercedes-Benz Fashion Week on February 8, 2012 in New York City

Damon Dash attends the Buckler by Andrew Buckler men’s collection Fall 2012 presentation during Mercedes-Benz Fashion Week on February 8, 2012 in New York City

*Hip-hop mogul Damon Dash has been ordered to pay $330,000 to a former business partner who accused him of reneging on a 2006 loan.

Tom Nastos, who ran an apparel company which distributed the Rocawear clothing line the star launched with his former pal Jay Z, claims he fronted Dash $240,000 seven years ago on the promise that he would pay it back. When he failed to do so in a timely manner, Nastos filed suit in New York and demanded his money back.

The music executive didn’t respond to the accusations so Nastos was awarded a default judgment – only for Dash to later challenge the claim, insisting he wasn’t properly served the legal papers. However, a Manhattan Supreme Court judge ruled against Dash on Thursday (May 9) and told him to return the funds plus an additional $90,000 in interest, reports the New York Post.

The ruling is the latest blow to Dash’s finances – his money woes first hit the headlines in 2009, when two of his New York properties went into foreclosure and he was accused of owing $2 million in state taxes.