On this video DeBunda said “no proof”?
Here’s the proof

THE TRUTH IS OUT THERE!

Hi, it’s former PTHA President Bob Hutt

HORSEMEN DESERVE THE TRUTH

- AND FAIRNESS

DEBUNDA WANTED PROOF!

APRIL 2026 INDEPENDENT FORENSIC AUDITORS REPORT:

According to the independent forensic investigation completed in April 2026, the auditors identified evidence and findings involving, among other things:

• Self-dealing

• Embezzlement

• Election irregularities

• Multiple Bylaw violations

• Breaches of fiduciary duty

• Conflicts of interest

• Ghost consulting arrangements

• Quid pro quo agreements

• Altered records and document destruction concerns

• Insurance irregularities

• Potential tax, mail, and wire fraud issues requiring further legal review

Key Findings Reported by the Auditors

• The forensic report concluded that former President Sal DeBunda received approximately $847,000 in compensation while serving as President, despite prior denials that he had been compensated. According to the report, approximately half was paid to his racing stable and half to his law firm for services the auditors questioned.

• The report further states that DeBunda’s law firm received approximately $1 million in legal fees from the PTHA during the relevant period.

• The auditors found that compensation paid to DeBunda was omitted from the PTHA IRS Form 990 filed by the Executive Director.

• The investigation identified approximately $2 million in PTHA expenditures involving the health insurance program that the auditors concluded warranted legal review.

• Approximately $200,000 was reportedly paid to a convicted felon for consulting services questioned by the auditors.

• The report questioned approximately $700,000 in consulting commissions relating to purchases for the tack shop and noted that the consultant had been added to the PTHA health insurance plan.

• The Executive Director reportedly received a $100,000 pension contribution in a single year.

• The auditors reported concerns that files of DeBunda & Ballezzi were destroyed and altered following the election on orders from Ex-President DeBunda. The employees involved still remain employed even though this current Board is aware of their misdeeds!

• The investigation found that the newly elected President was not made a required signatory on the PTHA bank account affiliated with President DeBunda for approximately 20 months after taking office, despite the account holding approximately $12 million in PTHA funds.

• After the NEW President ordered the funds transferred to a different financial institution, annual interest income reportedly increased from approximately $20,000 for the previous 20 years under EX- President DeBunda to approximately $200,000.

• The auditors concluded that President DeBunda, his law firm representing the PTHA, the Executive Director participated in efforts to influence the 2022 election in which President DeBunda was ineligible to run for office. The Executive Director made statements during the investigation which were not credible.

• The report states that PTHA employees admitted destroying and altering files and records on orders from Ex-President DeBunda to withhold information from the incoming President. This current board continues to employ these PTHA employees.

• The auditors identified language in the May 10, 2017 Board Minutes describing an agreement under which lifetime health insurance benefits were approved for Board members in connection with approval of compensation for the President.

• The Bylaws require that the President must approve and sign all PTHA checks. The auditors discovered checks which were signed only by the Executive Director without the knowledge nor approval of the President.

Recommendations to the Current Board

On April 23, 2026, the forensic auditors recommended that the Board:

1. Release a detailed Executive Summary of the forensic investigation to the PTHA membership.

2. Retain independent criminal counsel to evaluate the findings, pursue any appropriate legal remedies, seek recovery of misappropriated funds where warranted, and make referrals to law enforcement authorities if appropriate.

The Question for the Current Board

The forensic investigation was funded with PTHA money on behalf of approximately 2,100 members.

If the Board refuses to release the Executive Summary or act upon the auditors’ recommendations, members are entitled to ask:

Why is the report being withheld from the very people who paid for it?