Judges says testimony on $2m Boston house purchase ‘not credible’

In late 2009, early 2010 David and Lorraine Drumm bought a property at 73 Old Colony Road, Wellesley, a suburb west of Boston, for $2m.

The purchase was financed with a mortgage of $1.23m from Boston Private Bank and with a deposit of $831,000. The money from the deposit came from an account Ms Drumm held in her own name.

However, on Monday a US bankruptcy judge ruled that the money Ms Drumm used for the deposit was the result of a number of transfers of funds into her name from accounts held by her husband and other accounts they held jointly.