Projo 7 to 7 News Blog

PROVIDENCE, R.I. -- Angela Raposo, former owner of a title insurance firm in East Providence, was sentenced this morning to two years in federal prison for looting more than $1.3 million from company accounts and using the money for vacations, clothing, hair care and cosmetics.

U.S. District Court Judge William E. Smith, who expressed deep concern about Raposo's "greed,'' gave Raposo a break after she tearfully apologized to the court, her family and 7-year old daughter.

She blamed her problems on an addiction to pain killers that were prescribed to her after she underwent knee surgery.

``I'm sorry, but sorry is not good enough,'' Raposo told the court. ``I'm a good person. I'm a good mother. I just messed up.''

The FBI launched an investigation into the missing money in April 2007 amid allegations that Raposo and her husband, Marco Raposo, may have emptied more than $800,000 from client accounts at Title America Closing Services LLC, located in a shopping plaza at 855 Waterman Ave.

Federal prosecutors have said that Marco Raposo was not involved in the criminal scheme.

Title America was a limited agent that issued the insurance policies and acted as the transfer agent for Stewart Title Guaranty Co., in Rhode Island, New Hampshire, Connecticut and Maine.

Raposa pleaded guilty to a federal fraud charge on Dec. 1.

As part of the sentence, Raposo was ordered to pay Stewart Title more than $1.2 million in restitution.

Raposo, who remains free on bond, must surrender to federal marshals on June 8. She will then be sent to a yet-to-be determined prison.

Comments

john said:

what about restitution?

Link | May 15, 2009 1:48 PM
Report Abuse

---

well said:

She must have been real ugly to spend that much on beauty care. Did it help?

Link | May 15, 2009 2:22 PM
Report Abuse

---

jo said:

"I just messed up?" Messed up is when you have double-booked appointments!Free on bond? This blatant theft of other people's money and blatant greed cost her 2 yrs in jail? How about 10 yrs? That would be more like it. This is ridiculous!

Link | May 15, 2009 3:16 PM
Report Abuse

---

firebaron said:

Hey, I'd like to trade 2 years in jail for 1.3 MILLION dollars.
What about the people who had to pay two mortgages, because this druggie failed to fund their mortgages?
Ver poor justice, to say the least!

Link | May 15, 2009 6:11 PM
Report Abuse

---

Leave a comment

Please be civil. Vicious comments, personal attacks and profanity won't be published. Name and email are required; email address will not publish.

Name:

Email:

URL:  

Remember personal info?

Captcha:

Type the characters you see in the picture above.