Insurer Must Foot Legal Bill For Convicted Bank Fraudster

Law360, New York (July 11, 2012, 8:19 PM EDT) -- A New York state judge ordered Scottsdale Insurance Co. to pay the defense costs of the former GDC Acquisitions LLC CEO convicted in a $21 million bank fraud, finding the insurer is on the hook until it is decided whether the executive's alleged conduct precludes him from coverage.

Judge Shirley Werner Kornreich found that Courtney Dupree, the former CEO of GDC, which owns lighting maintenance and furniture distribution firms, is entitled to be covered by the company's $5 million directors and officers policy, which should pay...
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