Another Obama donor convicted of fraud
posted at 7:05 pm on December 30, 2011 by Tina Korbe
File this one under culture of corruption. Obama supporters just can’t seem to stay out of trouble, can they? This latest scandal involves a former Tarheels basketball player and a $21 million bank fraud scheme. New York Daily News reports:
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. …
Dupree, who attended the elite Wharton School of Business, was a rainmaker in Democratic circles.
His company counted NBC Universal and Goldman Sachs among its clients.
Such corruption occurs on either side of the aisle, of course, but that makes it no less disappointing when it happens.
Breaking on Hot Air