Obama Fundraiser Found Guilty of $21 Million Bank Fraud

by Stephan Tawney on December 30, 2011

As Jammie notes, it’s odd how many of Barack Obama’s buddies end up in prison on felony charges. It’s almost like he’s part of a culture of corruption or something.

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 sat stone-faced as the verdict was read in Brooklyn Federal Court. He faces up to 30 years in prison.

The guy has big connections to Democratic politics:

Dupree, who attended the elite Wharton School of Business, was a rainmaker in Democratic circles.

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.

In turn, NBC Universal and Goldman Sachs have been big sources of fundraising money for the Obama campaign and other Democratic causes.



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