Damon Dash is in the money -- courtesy his settlement with Lee Daniels -- but he's not forking over any to his exes ... so claim the women who are now cutting out the middle man and suing Lee to get the dough.
According to legal docs -- obtained by TMZ -- Rachel Roy and Cindy Morales are going after Daniels because they say the money he agreed to pay Dame to squash a $5 mil lawsuit ... is rightfully theirs.
Here's the backstory -- the rap mogul's ex-wife Rachel, with whom he has 2 daughters, claims he owes her $826,166.88 in back child support and other expenses ... and Morales, mother of his son, claims he owes her $244,721.43.
In the suit, both women say Dash has paid them less than 5 bucks in child support, so far in 2019 -- and that's despite the fact he and Lee reached their settlement at the end of 2018.
We broke the story ... there are also warrants out for Dash's arrest over unpaid child support to the 2 women, but he's said he plans to deal with them head-on and denied allegations of not taking care of his kids.
We reached out to Daniels ... so far no word back.