Democratic fundraiser convicted of engineering $21 million bank fraud scheme

Courtney Dupree is a former Tarheel basketball player who hosted a 2008 fundraiser for Obama

John Marzulli & Corky Siemaszko
NY Daily News

A Democratic fundraiser was found guilty Friday of engineering a $21 million bank fraud scheme.

Courtney Dupree was convicted of vastly overstating the billings of his Long Island City-based lighting company GDC Acquisitions in order to fraudulently obtain a loan from Amalgamated Bank.

Dupree, 42, sat stone-faced as the verdict was read in Brooklyn Federal Court. He faces up to 30 years in prison and has to pay back at least $18 million.

Meanwhile, the jury that convicted Dupree also acquitted his company lawyer, Thomas Foley, 45.

“The jury rejected an FBI effort to ensnare a lawyer because of his client’s conduct and we are very grateful,” said Foley’s defense attorney, Joseph Ryan.

Dupree was done in by a mountain of paperwork, which prosecutors said proved he was a crook, and by testimony from cooperating witnesses who were involved in the scheme…

…In 2008, Dupree hosted a $1,000-a-ticket fund-raiser for Barack Obama at his Broad St. apartment that was attended by top aide Valerie Jarrett.

His company counted NBC Universal and Goldman Sachs among its clients…

The entire article is at NY Daily News.


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