Saturday, June 4, 2011

Prosecutors describe soaring DiMasi debt - Boston Globe

DiMasi?s debt included an average $50,000 monthly credit card balance, for spending on bills, the Fast Lane, and personal items.

?Generally, it was recreational in nature, restaurants, travel, clothing, those types of things,?? Roller said. She did not specify the places where DiMasi shopped or ate.

The overall tally of his personal debts did not include the $500,000 mortgage DiMasi had on his North End condominium or the $400,000-plus mortgage his wife had on property in Needham.

Prosecutors sought to use the overview of DiMasi?s finances to show he had a motive to engineer state contracts for the Cognos company in exchange for secret payments.

Roller testified that as speaker DiMasi was no longer earning the $200,000-plus salary he made in a private law practice in 2003. Once he became speaker in 2004, he could not handle the case load he once did, and he saw his income drop below $40,000 in 2007.

According to state figures, DiMasi made $93,237 as a legislator in 2007. His wife, Debbie, had an annual income of $72,000, according to Roller, who did not give the source of Debbie DiMasi?s earnings.

All along, according to campaign finance reports and other state records, Salvatore DiMasi was enjoying the perks that came with the office of speaker: He had a coveted North End parking deal with the Boston Redevelopment Authority for $55 a month. His campaign account also paid for outings and for the use of a black Lincoln Navigator sport utility vehicle.

One of DiMasi?s lawyers, William Cintolo, argued while cross-examining Roller that the former speaker had been able to keep up with his bills and make regular payments. Also, Cintolo said, DiMasi?s bank accounts and line of credit consistently fluctuated because DiMasi made regular deposits and payments.

?I did see money coming in and coming out,?? Roller agreed.

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNE1dXFKlTGuIX5Tiu3EfkZwrxkUow&url=http://www.boston.com/news/politics/articles/2011/06/02/accountant_testifies_dimasi_sought_kickbacks_to_pay_soaring_debt/

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