Obama fundraiser found guilty of bank fraud

Nice company you're keeping there, Barry. You going to return the money this guy raised for you too? New York Daily News: 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. "This is a case about lying to a bank to get money," Assistant U.S. Attorney David Woll told the jury during...(Read Full Post)