Tom Martino: Allegations of shifting assets involving past bankruptcy filing by wife Holly

Thumbnail image for tom martino head shot 2011.jpg
Tom Martino.
Update below: On Saturday, the Denver Post ran a front-page story featuring a bank's accusation of asset-shifting by KHOW host and self-described Troubleshooter Tom Martino, who recently filed for bankruptcy on reported liabilities of $78 million -- a figure he disputes. Martino denies any such actions, and he also disputes a separate allegation that a similar game was played in a previous bankruptcy filing by his now-wife, Holly Whitrock-Martino.

"It's a complete lie," says Martino, "an absolute lie from someone who hates us" -- Holly's former husband, Mike Willis.

At this writing, Martino is attacking Willis on his radio show; at one point, he dubbed him "evil." In addition, he began denigrating this item well before its publication.

The Post report (preceded by a Denver Business Journal piece that contained many of its elements) involves a filing by International Bank, one of his creditors. The report reads in part, "International Bank believes the Debtor (Martino) may have transferred certain assets to Ms. Martino with the intent to hinder, delay, or defraud International Bank and other creditors and/or without receiving reasonably equivalent value in exchange." Among the assets listed by the bank, the Post piece continues, were "a house worth $4.3 million, furnishings and art worth $750,000, three aircraft with combined value of $725,000, Friesian horses worth $100,000, a Bentley Arnage car worth $200,000, cash accounts holding $4.6 million and real estate equity of $11.7 million."

In response, Martino told the paper that the only asset he transferred to Holly was the home, and said this action took place in 2008, before his current round of financial difficulties hit. He otherwise denied wrongdoing and accused International Bank of trying to "muddy the waters" and "discredit me."

During his radio program today, he criticized the Post for not sharing a letter from another creditor, Colony AMC, suggesting that Martino had been negotiating in good faith to resolve his issues with the institution before a smaller, more aggressive creditor forced him to file for personal bankruptcy. Westword also received a copy of this document from a source requesting anonymity. It's on view below.

holly fanah whitrock martino.jpg
Holly Whitrock-Martino's Facebook photo.
As for Willis, he's clearly no Martino fan. He didn't initiate contact with Westword in the wake of the latest report; I phoned him, not the other way around. But he had read the Post article, and says the International Bank allegation called to mind Holly's bankruptcy, filed in late 2004 -- "except on a smaller scale," he allows.

Willis says he and Holly were still married when she became involved with Martino. (By the way, Holly's Facebook page includes two individuals in a list of people who inspire her: Martino and Jesus Christ.) After her divorce was final, she filed for bankruptcy in an effort to distance herself from potential liability for Willis's debts. "I had a couple of business loans," Willis recalls. "Holly's name wasn't on them, but Tom was afraid it would come back on her somehow. It seemed kind of silly to me to file bankruptcy, but he said, 'I'm going to have her do this.'"

By the way, Martino remembers a meeting with Willis at a restaurant, but says the topic was the divorce, not the bankruptcy.

In the divorce, Willis says he gave Holly "probably a couple hundred grand in household goods and stuff... And because I was a party to the bankruptcy -- they had some of my debts listed -- I got the papers, too. And she had all her debt listed, for things on credit cards and stuff. But she didn't list any assets. And I thought, 'Wait a minute. I had to give her a bunch of stuff in this divorce. That doesn't seem right.'"

Shortly thereafter, Willis continues, he called the bankruptcy trustee. "He said, 'We'll go to him and make him address this.' And then I asked, 'Isn't that bankruptcy fraud?' And he said you'd have to go to the FBI and file charges about that. So I went to the FBI, but they never opened a formal investigation."

Why not? "The agent I was dealing with told me, 'Mike, because you blew the whistle on them, they have now modified the bankruptcy,'" listing the assets that hadn't been included previously. "'And because the bankruptcy hadn't been finalized before you blew the whistle, there's technically no fraud.'"

Martino's response? Rather than getting into the specifics of Willis's story, he speaks in more general terms. "I was not involved in the bankruptcy," he says. "Holly went through a bankruptcy for her husband's business debt before she married me. He hates her and he hates me and he's making up lies. Anyone right now can make up lies about me, and I'm powerless to do anything about it. People who hate me can still attack me. But none of it is true." And then he hung up.

Update, 11:31 a.m. September 26: Moments ago, we received the following note from Holly Whitrock-Martino:

"First off, the man you are talking to is a hateful person who told our friends that he prayed I had a miscarriage with my first child with Tom. He is 'Mr. Smoke and Mirrors.' Mike Willis NEVER HAD millions, EVER, so how could I have gotten that in a divorce? He was MILLIONS OF DOLLARS in debt, his business was failing. I HAD to file for BK [bankruptcy] because of HIS debt. Not mine. In fact, I paid all of my consumer debt to the trustee. Check your facts. Please do your investigation before ruining my reputation."

Some clarification regarding this statement is in order. Willis does not say his former wife received "millions" in a divorce settlement. Instead, he is quoted as saying she received "probably a couple hundred grand in household goods and stuff" -- assets he says weren't initially listed in the bankruptcy filing, but were later added after he contacted the trustee and the FBI. Moreover, Willis acknowledges that his wife filed for bankruptcy in order to distance herself from his debt, not hers. Moreover, the post makes no assertion that Whitrock-Martino failed to pay her consumer debt to the bankruptcy trustee. Rather, Willis quotes a conversation with an FBI agent, who told him no bankruptcy fraud took place.

Look below to see the bank document lauding Martino. It can also be accessed by clicking here.

Tom Martino Bank Document

More from our Media archive: "Tom Martino, bankrupt Troubleshooter, to be featured speaker at wealth-building convention?"


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40 comments
Frank Lucas Harlem
Frank Lucas Harlem

Must be talk show karma and divorces. Boyles is gonna marry ex Houston Oilers (number 3 or 4 I think) Dan Pastorini's ex. He's a piece of work, must be blind to not see through Dandaroo.

Frank Lucas Harlem
Frank Lucas Harlem

I thought he had 1 previous wife, the Donna lady, guess Kenny Be  be right. I wonder when he had #1, age 19? Martino always covered up his worth to his listeners as he tried to let the listeners think he was like them. I loved callers getting on his case with overpriced electricians & plumbers that Martino could pay with back pocket money. The guys at Jellystone Park in N.Y. escorting him and his 750K RV out as Mr. Martinez is a classic Martino story.

Frank Lucas Harlem
Frank Lucas Harlem

Even Rolie got a taste of Martino majic. "This is what I use and who I recommended" as he slaps the side of his 4.5 million dollar crib. I wonder if Kaplis and Elway invite Martino over for the Cherry Hills feast? Somebody told me Tom's father had a barbershop out by Roosevelt Raceway. The D'Amato brothers visited (pre Senator) for "clips" (no pun intended if you know what I mean). Martino Cars in Catskill N.Y. was another loving place.

LuvMyZ06
LuvMyZ06

Combined income a month is over 100k...seriously who thinks it's a good idea to develop in Ft. Lupton?  What does Roland have to say about this? 

Frank Lucas Harlem
Frank Lucas Harlem

Cayman Islands just before the bankruptcy? Millions put in his wife's name the past 2 years? I wish I could do that but then again I did the Cayman gig in 1972 but it was found out in '75

Dnvrgirl001
Dnvrgirl001

Now you know how it feels to have half your story exposed before the world.  You've spent years destroying peoples lives and telling half the story.  I am considering starting a web site just so all of your unpaid contractors can list their outstanding invoices.  When you put a small contractor out of business his suppliers and other customers take the hit.

Ralphmalf
Ralphmalf

I'm surprised the credit line on Holly Whitrock's photograph isn't "Denver Back Page."

Another Martino Victom
Another Martino Victom

On Tom's TroubleShooter.com website he clearly states under "Personal" that he is an avid aviation enthusiast.  Clearly these expensive toys (airplanes and a helicopter) are not for his business and should not be sheltered as he claims his business is worth nothing without him.  If his business is worth nothing as he contends, there should be no assets of value that would give the business value.  Looks like an oxymoron to me.  Sure looks like Tom is trying to commit bankruptcy fraud by sheltering his high dollar belongings within his business that he contends has no value.  Definition of Oxymoron:  Noun: A figure of speech in which apparently contradictory terms appear in conjunction (e.g., faith unfaithful kept him falsely true).  If his business truly has no value, all assets should be liquidated from the business.  Clearly the high dollar items within his business are not "tools of the trade" which may be protected from liquidation by the bankruptcy.   Example:  A plumber filing BK would be allowed to exempt his plumbing tools from the BK so he could continue working to produce an income during and after the BK. 

Light Rail Tattler
Light Rail Tattler

The Troubleshooter purchased a multi-unit rental property in the 500 block of Park Avenue West, ruthlessly evicted the tenants from a revenue producing property, then abandoned the property.The property was broken into repeatedly by vagrants and vandals.Ticket after ticket was affixed to the property for zoning violations: weeds, syringes, trash of all sorts. The Troubleshooter never even bothered to remove tickets posted on his property a year later. The city maintained the property a city expense and billed The Troubleshooter.I sent numerous emails to the TV station offering to help The Troubleshooter maintain his property as I needed work. The Troubleshooter never replied even once to my emails.The Troubleshooter destroyed that property through neglect.No wonder The Troubleshooter is broke.The Troubleshooter is a financial genius. 

justsayin
justsayin

Damn... Holly had to take her FB page down because of all the negative comments. Good thing you dragged your gold digging whore into this. But here is the best part Tommy Boy, I bet your little fiasco is planting that seed of doubt in her head. She will soon realize (if she hasn't already) what an asshole you are and she will be fucking the next guy that comes along and can provide her with all the trappings gold diggers need these days.   

Thom Smartino
Thom Smartino

My name is Thom and I am the Trouble Shooter. I'll gladly take on trouble shooting this issue for the sum of $175,000. Please send cash directly to me so that I may pay out my poor ponzi scheme victims who bought into all my shit over the past few years.

justsayin
justsayin

in the original article tom's alter ego the "trouble defender" had talked shit about how the commies on the westword blog didn't know shit and we are all entiteled socialist whatevers. well it apears from the comments from the denver business journel article that even the republicans that read that publication think he is full of shit.

Amy Not Hatin
Amy Not Hatin

How can anyone wish such hateful things on someone they don't know?   The only people that would say something like that are those "without a pot to piss in or the trailer window to throw it out of."  It is this kind of stupidity that created this attention.  Do yourself a favor & google "Non-Consumer Chapter 7" Bankruptcy law.  

Stapes
Stapes

Tom needs a little cheese to along with that whine of his.

JB
JB

Tom Martino should be run out of town. His "network" of refereed businesses are a complete joke just like himself.

RyanJohnSmith
RyanJohnSmith

Fucking Fresian horses and a Bentley ?

How many yachts does this guy need to ski behind ?

What a hypocrite.

That chick looks like a gold digger if i've ever seen one.

" We want pre-nup Tom "

Brian Martinez
Brian Martinez

I find it disgusting that KHOW is allowing this asshole to use his radio show to attack another individual in what appears to be a personal vendetta.

Tom Martino
Tom Martino

Michael Roberts is an outright liar.  If he disagrees, he can sue me.  Let me repeat:  He is a liar.  Roberts claims he initiated the call to my wife's ex-husband.  He is a liar for what he did NOT say.

The truth is, this ex-husband called Westword 7 years ago to accuse my wife of cheating.  He kept calling him.  Why did Michael leave the story alone til now?  He did not find credence in it then and there is no credence now.

It is an ex-husband.  The guy hates us.  There was never any fraud found.  But Roberts writes about it simply on the ex-husband's word.

Ask yourself:  Is this a story.  A guy says she cheated, but corrected it, so nothing was done about it?

How do you even address that?  It is schlock journalism by a liar who simply never liked me.  He is a pity.

Wonder what he will write when no fraud is found?  Will he write that I "corrected" it and covered it up?  Probably.  

Rowdy
Rowdy

How sad that this crook fooled her into leaving the real man.  Just keep doing the right or legal thing...and the hatred that this man is spreading will eat him alive.  Evil is as evil does!

Hellya
Hellya

Elway? - did'nt Holly date him too?  When the attention or money runs out, she moves on!

Guest
Guest

It's so wonderful to see Tom's house of cards and lies come tumbling down around him. Wonder how long the hot young wife will stick around once the money runs out ... sounds like she had no problem leaving the last guy when the money ran out.

Jfjajfldsjj
Jfjajfldsjj

Easy now. The real victim here is Holly. Twice she's married men she thought had money, and they both turned out to be broke-ass, bankrupt losers. Show a little pity.

Motojunkie323
Motojunkie323

Don't worry Tommy, the hard working people of this great country of our's will pick up the tab for you. Meanwhile, you just sit back in your mansion with your fake morals and watch as your world falls down around you. Money is the root of evil, as you have proven once again, it won't buy your life back. As fate will have it, you'll probably fall off one of your fancy, high dollar horses and i hope it drags you for miles, you snake!

JB
JB

"It is this kind of stupidity that created this attention."

Exactly. His stupidity is what created this attention. He is not to be trusted or those that would choose to defend this criminal.

RyanJohnSmith
RyanJohnSmith

Do yourself a favor and look into his past on air comments regarding the do's and do-not's of Bankruptcy. 

He's a hypocrite of the worst kind; the kind that knows he's doing wrong but thinks he's smarter than everyone else and able to fool them.

andyandy
andyandy

Martino will vouch for anybody who pays him. He never even visited the business that ripped me off before putting it on his referral list. There is no lie that Tom Martino won't tell for money. The man has no moral compass whatsoever.

andyandy
andyandy

Thank you for referring me to a career criminal on your referral list, Ed Browning, who ripped me off big-time. I hope you enjoyed the money he gave you to lie for him.

Thanks you for refusing to lift a finger to help me get my money back, even while bragging about using "the power of the media" to get justice.

I hope this problem of yours causes you as much trouble, and heartache as the problems you foisted on me through your insufferably corrupt Referral List.

You are a bastard, Martino, and I do not wish you well. And for you to complain about someone else, ANYONE else, is a pot-meet-kettle moment of truly historic proportions.

Guest
Guest

You're the liar, Tom. And you got caught.

Dnvrgirl001
Dnvrgirl001

I spoke to someone at the gas station yesterday who had one of your trouble shooter magnetic signs on their car.  He took it off.  Your done in this town.  Your version of mafia bribery has gone away.  I'll be the girl selling t-shirts with your mug shot on them.

Knoom1
Knoom1

Your a spoiled brat Tom Martino, once a crook always a crook. Bet Donna's glad you left.

Anti Troubleshooter - Martino
Anti Troubleshooter - Martino

Tom,  is it time to expose wrongful things you did during and after La Donna worked as your producer?  

People have been fooled into thinking you are for the small guy, consumer. 

Let's see how the cards fall Tom...  There is plenty of dirt out there on you.  Perhaps at some point in the future will be an opportune time to spill the beans.

Hopefully the federal justice will see through your BS and you will not be flying off into the sunset with one of your 3 aircraft. 

You have no right to keep these assists protected from your BK in a business that you say has no value.  Just more Martino BS at it's finest. 

Time to reduce you to the limits provided by Chapter 7 BK.  Take your BS radio show off the air and move on. 

I pray that this BK of yours is fairly litigated and that you simply go far away.

Michael Roberts
Michael Roberts

An added note: I did phone Mike Willis this morning. He did not phone me in the wake of the Denver Post article, as is stated in the article.

Michael Roberts
Michael Roberts

Regarding this post: As I told Tom this morning, I first spoke to Mike Willis in 2005, and I've chatted with him on a number of occasions since then. We did not write about his allegations at that time because, in the end, the FBI determined that no bankruptcy fraud had taken place, as is stated clearly in the item. The decision not to publish had nothing to do with doubts about Willis's credibility, or the credibility of his assertions. However, given the latest stories to appear in the Denver Business Journal and the Denver Post, I felt that the story was now newsworthy. After all, Willis's story about asset-shifting echoed claims made by International Bank. I mentioned this rationale to Tom during a portion of the conversation he asked to be kept off the record.

RyanJohnSmith
RyanJohnSmith

So everyone's lying accept you Tom ?

It will all come out in the end and you'll look like even more of an asshole.

I can't wait to see you lose everything.

Prick.

andyandy
andyandy

I admit, I get great pleasure in seeing Tom Martino suffer. He absolutely deserves it, not only for what he did to me, but to countless others, as well.

andyandy
andyandy

"We already established what you are," W.C. fields said to Mae West. "We're just negotiating over price."

Sounds like Tom and Holly are a perfect match. Either will do anything for a few bucks, and neither has any moral compass whatsoever.

Snuffle
Snuffle

True, she is a victim.   After all, they're faced with a relationship destroying dilemma over whether he is supposed to list her fake boobs as an asset in his bankruptcy.

RyanJohnSmith
RyanJohnSmith

Thank you for exposing this clown.

Like he wasn't pulling the strings on his now wife's first bankruptcy ? Right.

andyandy
andyandy

Let us hope criminal charges are pending, and that before it's over, Martino becomes the bitch of Cell Block C.

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