Republican Presidential Candidate Andy Martin seeks forensic audit of New Hampshire's Tillotson trust assets

Corruption-fighting independent Republican Presidential Candidate Andy Martin has asked officials of the Tillotson Corporation and related Tillotson trust entities to open their books and records for an independent forensic audit. Martin is also asking to make arrangements to inspect and copy Tillotson files. Martin accuses Tillotson officials of “running down” The Balsams hotel and engaging in self-sealing without any meaningful public accountability. The Tillotson Corporation is part of a charitable trust for New Hampshire residents. Martin’s letter follows below.

ANDY MARTIN /2012

“The Right Republican” for

President of the United States

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August 16, 2011

Grafton Corbett

Tillotson Corporation

via fax (781) 402-1737

with copy to:

Hon. Michael Delaney

Attorney General

Concord, NH

via fax (603) 271-2110

Re: Mismanagement and corruption of Tillotson Corporation/Tillotson Trust/The Balsams

Request for access to books and records to conduct forensic audit

Request to be heard at board meetings

Dear Mr. Corbett:

If information that has reached me from Ocean Properties, Ltd. is accurate, it would appear that trustees of the Tillotson Trust and Tillotson Corporation officers who approved the “sale” of The Balsams could be criminally prosecuted.

I have been stunned at the way your board and various and sundry other related Tillotson entities allowed The Balsams to deteriorate, failed to invest in maintaining the quality of a North Country jewel, and then sought to dump the business on Ocean Properties as a distressed property.

The monkey business and self-dealing by your board has to stop.

Tillotson assets were left in trust for the North Country; they are a public trust, not a private piggybank for persons to enrich themselves outside the glare of public scrutiny.

Therefore, I would like to request the following:

First, there have been newspaper reports the Balsams will close early in September for its seasonal shut-down instead of staying open until its normal seasonal rotation in October. I ask that the hotel be kept open and operated normally.

What you are doing with your firing employees and opening / closing / closing/ opening the hotel is destroying the “going concern” value of The Balsams as a resort hotel. A hotel can't operate when it is announcing firings and openings and closings on a capricious timetable. Predictability is a hallmark of the hospitality business and The Balsams has an outstanding franchise value to maintain. You are undermining the “going concern” value of The Balsams.

Second, I ask that you issue a public commitment to reopen The Balsams on its normal schedule for the holidays. If it is your intent to kill the hotel through mismanagement and incompetence, so you can possibly try to pull another inside job and “sell” the hotel in a suspicious transaction you are making a good effort. The mismanagement and self-dealing of the Tillotson Corporation must stop.

Third, I would like to make arrangements to review the books and records of Tillotson Corporation and associated public trust entities which are funded though Neil Tillotson assets. It seems to me you have been operating as a de facto private corporation behind closed doors, and seeking to use secrecy and silence as a veil against public scrutiny of your activities.

Fourth, I would like to ask the board of Tillotson Corporation and related charitable boards for permission to conduct at my campaign’s expense a forensic audit of all Tillotson-related entities. It appears to me that there has been gross mismanagement and potential self-dealing by the boards of these entities.

Finally, I would like to be notified of Tillotson Corporation board meetings, and have these meetings publicly noticed and scheduled sufficiently in advance so members of the public and the media may appear and be heard. As a charitable entity, the board should not be meeting in secret or without adequate advance notice to the public. If the Attorney General will not do his job of protecting New Hampshire charities, I will.

The North County needs help. Tillotson resources are there to help and they are being misused and misdirected.

I am not threatening a lawsuit at this time because I hope my activity will embarrass Governor Lynch and General Delaney into doing their jobs as public officials. If they fail to respond and keep stonewalling, obviously there would be litigation to protect the Tillotson assets from private predators.

The time is now to “come clean,” open the doors, and start operating like a public trust and not a secret society. I encourage you to do so. As I indicated at the beginning of this letter, if the information from Ocean Properties is true, there are some very disturbing aspects of your behavior and the board’s behavior.

I plan to stay involved after the 2012 primary, so running out the clock is not an option for you. In addition, I will challenge in court any future actions by the board which I see as self-dealing, corrupt and violative of Neil Tillotson’s original intent to benefit the people of the North Country. Firing hundreds of people in the midst of a horrible recession is not helping the North Country. If he were alive Mr. Tillotson would be outraged by your behavior and the board’s conduct.

Last week I was contacted by a law firm that claimed to be the Tillotson Corporation’s attorneys. When I asked them to place their authority in writing, they never responded. This kind of chicanery and legerdemain has to stop. You need to operate as a public charity, not a closed corporation.

I will await your response before consulting counsel on how to proceed to protect the people of the North Country and to enforce the precepts of Neil Tillotson’s charitable bequest.

Respectfully submitted,

ANDY MARTIN

AM:sp

© Andy Martin 2011 – All rights reserved