Bam booster 'mega-fraud'
Last Updated: 6:34 AM, July 24, 2010
Posted: 2:32 AM, July 24, 2010
A Manhattan businessman who once hosted a $1,000-a-ticket fund-raiser for President Obama was busted in a $21 million bank fraud yesterday.
Courtney Dupree, 41, was snared by the president's new Financial Fraud Enforcement Task Force.
Dupree was nabbed along with three co-workers. He was accused in Brooklyn federal court of pumping up the income of his holding company, GDC Acquisitions, in order to secure a higher credit line from Amalgamated Bank.
The suspect, who once played Tar Heel basketball at the University of North Carolina, allegedly inflated his accounts receivable by $14 million in November to secure a $21 million credit line.
In 2008, Dupree held a fund-raiser, featuring Obama adviser Valerie Jarrett, in his lower Manhattan apartment. Dupree also contributed $6,600 to Obama's 2008 presidential campaign.
Dupree's lawyer denied his client had done anything wrong.
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