Some predicted a long trial and hung jury – WRONG! In just 20 minutes a federal jury in Dallas, Texas convicted James L. Fantroy, Sr., a former Dallas City Council Member of embezzlement.
Seems that Fantroy, who also was a former member of the Board of Directors and Treasurer of Paul Quinn College community Development Corporation, embezzled funds from monies that were held in trust for Paul Quinn College.
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.
Fantroy faces up to 10 years in federal prison along with a $250,000 fine. He will be sentenced May 21st, 2008.
As a white collar crime and business ethics speaker, I know first hand the impact that choices have. And, as I state to most audiences, every choice has a consequence. The strange thing is – most who make choices like this somehow think that they will get by with the cover up. But you do reap what you sow and there is no hiding from the consequences of the choices you make.