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  • Sam Tamposi Jr.
Sunday, September 26, 2010

Judge writes of ‘falsehoods’ by Betty Tamposi

NASHUA -- In addition to cutting her from her family’s fortune, Hillsborough County Probate Court Judge Gary Cassavecchia accuses Elizabeth Tamposi of several transgressions, including making false statements about her income and debts.

Cassavecchia’s 54-page order cuts Betty Tamposi out of the trust fund founded by her father, the late developer Sam Tamposi of Nashua, and also orders her to pay back any money she received over the past two years.

The judge’s order also suggests that Tamposi made misrepresentations on a mortgage loan application, a relatively common offense for which relatively few people are ever prosecuted.

Describing the former U.S. State Department official’s conduct regarding two loan applications on pages 23 and 24 of the order, Cassavecchia wrote that Tamposi applied for a loan from Sovereign Bank in 2007 to finance renovations to her home on Governor’s Island in Gilford.

In the application, he wrote, “Betty falsely reported that she had been self-employed at Citrus Hills Construction for 21 years and had a monthly income from employment of $98,876.66.”

In fact, Cassavecchia wrote elsewhere in his order, Betty Tamposi had “no employment income” at the time.

Betty Tamposi also failed to note in the application that she had just co-signed a loan for her daughter’s college tuition just a few weeks earlier, and claimed that she was not involved in any pending litigation, Cassavecchia wrote. She also misstated the value and her ownership of a property in Nashua, he wrote.

Tamposi offered an explanation, but the judge didn’t buy it, he wrote.

“Betty’s effort to attribute these falsehoods and the omission to the assistance rendered by others is not found credible, especially given her level of education, experience with legal matters, and general level of sophistication,” Cassavecchia wrote.

Just last year, a former Hillsborough County prosecutor was charged with wire fraud for overstating her income and failing to report debts in a mortgage application for a property in Brookline. Paula Philbrook pleaded guilty, and was sentenced to six months home confinement and three years probation. She also lost her law license.

The prosecutor in Philbrook’s case, Assistant U.S. Attorney William Morse, said he couldn’t comment on the Tamposi case or Cassavecchia’s order, but he agreed that making false statements on a loan application could be a crime.

“Knowing and willful false statements about employment, income, assets and debt... on a mortgage application would likely constitute a crime under federal law,” Morse said.

Just because someone gives false information doesn’t mean that they’ve done so knowingly and willingly, however, he noted. Also, the misinformation must be “material” in order for it to be criminal; it must be information that affects the decision to grant or deny the loan.

Morse acknowledged at the time that Philbrook was prosecuted in part because of her position of public authority, for doing something that is believed to be have been a common dodge at the time: inflating income on a mortgage application.

However, Morse said earlier this month, the law applies equally to one and all.

Andrew Wolfe can be reached at 594-6410 or awolfe@nashuatelegraph.com.