CardioVascular BioTherapeutics (fka CVBT)

[walhall]

Clarification on the fraud charges against Cardiovascular Biotherapeutics CEO Calvin Wallen III

With regards to my earlier post #391, I should have stated more clearly WHY the bankruptcy trustee for Tauren Exploration believes that Calvin Wallen stole over $14 million from Tauren Exploration.

After Tauren filed for Chapter 11 bankruptcy, one of Tauren's creditors, Gloria's Ranch, told the bankruptcy court that Tauren had omitted a huge court-ordered judgment ($24 million) against Tauren in Tauren's list of liabilities presented to the bankruptcy court. That huge omission by Wallen/Tauren led to the appointment of a court-ordered bankruptcy trustee, who then brought in forensic accountants to investigate.

The forensic accountants uncovered the MASSIVE THEFT OF TAUREN'S ASSETS, or more properly a thorough looting of them, by Calvin Wallen, as well as a conspiracy to cover up that theft. The bankruptcy trustee alleges that Wallen created a false paper trail to hide his illegal activities, which involved failure to report to the court what actually happened but actually creating falsified documents to suggest otherwise. Additionally, the bankruptcy trustee has presented all this information to the court in the form of documents, bank records, and the forensic accounting, so it's not a "he said, he said" type situation, they have hard facts, documents, dates, times, amounts, signatures, etc. It's all spelled out in detail in the court filings.

If anyone wants to understand why I have lost all hope with regards to Cardiovascular Biotherapeutics (CVBT), it's because I've been reading these documents. They paint a terrible picture of Calvin Wallen III. If these charges are proven true, he is a criminal. Since Wallen has been the sole funding source for CVBT since his hostile takeover, it strongly suggests that CVBT has been funded by stolen money. If that's true, it doesn't end well for CVBT. We'll let the trial outcome tell us once and for all. The trial starts in about a month.

As a third party reading these documents, it's really difficult to see how Wallen can mount any sort of defense against the bankruptcy trustee and the forensic accounting firm, i.e. experts at finding these sorts of frauds. It will be really interesting to learn what Wallen's defense will be in this trial. We won't have to wait long, because the trial starts in February 2019. And if Wallen is convicted, it's difficult to see how this doesn't get referred for criminal prosecution, which likely means he will be headed to prison.

Here is a link to the court documents in these cases, for any and all to read for themselves the ugly truth:

Tauren Exploration, Inc. Liquidating Trust vs. Calvin Wallen III:
https://www.pacermonitor.com/public/case/24021776/Tauren_Exploration,_Inc_Liquidating_Trust_v_Wallen,_III

Tauren Exploration, Inc. Liquidating Trust vs. Pandale Holdings, Inc. et. al:
https://www.pacermonitor.com/public/case/24021775/Tauren_Exploration,_Inc_Liquidating_Trust_v_Pandale_Holdings,_Inc_et_al

Tauren Exploration, Inc. Liquidating Trust v. Fossil Operating, Inc. et al:
https://www.pacermonitor.com/public/case/24021777/Tauren_Exploration,_Inc_Liquidating_Trust_v_Fossil_Operating_Inc_et_al