![]() |
U.S. Department
of Justice
United States Attorney Richard B. Roper
|
||||
|
|||||
FOR IMMEDIATE RELEASE |
CONTACT: KATHY COLVIN |
||||
THURSDAY, FEBRUARY 28, 2008 WWW.USDOJ.GOV/USAO/TXN |
PHONE: (214)659-8600
|
||||
FEDERAL JURY CONVICTS PAUL QUINN COLLEGE BOARD MEMBER/TREASURER
In 1998, the U.S. Department of Housing and Urban Development (HUD) approved Paul Quinn College for a $250,000 Historical Black Colleges and Universities (HBCU) grant. The college hired Paul Quinn CDC to assist in administering the grant, which included the revitalization of the college’s surrounding area. Paul Quinn College entered into a real estate management agreement with Paul Quinn CDC establishing Paul Quinn CDC as the manager of the Highland Hills Shopping Center, a property owned by Paul Quinn College. It required Paul Quinn CDC to deposit all rental receipts it collected, less any sums properly deducted or otherwise provided for in the agreement, into a trust account for the benefit of Paul Quinn College. From August 2000 through June 7, 2002, Paul Quinn College received eight disbursements totaling approximately $222,853 from HUD, pursuant to the HBCU grant. During the one year period beginning April 1, 2003, Paul Quinn College received funds from a second HBCU grant, totaling more than $10,000. The government presented evidence at trial that from April 26, 2003, through July 30, 2003, James L. Fantroy, Sr., acting as an agent for Paul Quinn College, embezzled approximately $21,000 in monies held in trust for Paul Quinn College.
|