CardioVascular BioTherapeutics (fka CVBT)

[walhall]

Cardiovascular Biotherapeutics CEO's fraud trial postponed to mid-year 2019

The fraud trial of Calvin Wallen, CEO of Cardiovascular Biotherapeutics, has been once again postponed to mid-year 2019 (July?), from February 2019. It appears that Wallen is playing the delay, delay, delay game, and has managed to keep this trial at bay for over a year now. However, I've heard that further delays beyond this are unlikely. We'll see.

In my opinion, this is not good news for CVBT. Why? Because the longer the cloud of fraud and impropriety hangs over CVBT, the worse things become. In my experience, companies with this sort of stench can not raise funding, or really advance on any fronts, until the matter is resolved one way or another. If as some maintain Calvin Wallen is going to be proven innocent of stealing $14 million from his bankrupt company Tauren Exploration Inc., the sooner that verdict comes, the better for CVBT. But if he is found GUILTY, I believe CVBT will not and can not survive that. Time will tell all.

Food for thought: If Calvin Wallen believes he is innocent and that he did not steal that $14 million that somehow ended up in bank accounts he controls including his own (according to the Bankruptcy Trustee for Tauren), why has he been continually seeking delays in his trial to clear his good name?


Here is a link to the court documents in these cases:

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