CardioVascular BioTherapeutics (fka CVBT)

[walhall]

Cardiovascular Biotherapeutics (CVBT) CEO's fraud trial June 2019 hearing

I just noticed that a hearing has been scheduled for June 24, 2019 in the upcmoing bankruptcy fraud trial of Calvin Wallen III, the CEO and controlling shareholder of Cardiovascular Biotherapeutics (CVBT). I suspect that the trial will take place soon thereafter, but we will just have to wait to learn the outcome of that hearing.

To be clear, YES, Calvin Wallen is being sued for fraud by the Bankruptcy Trustee of Tauren Exploration (Wallen's now-bankrupt company) in a civil trial for having allegedly stolen $14 million from Tauren. This is NOT a run-of-the-mill dispute between business partners as is being falsely claimed on this message board. Rather, it is a dispute between the U.S. government (via the Bankruptcy Trustee for Tauren Exploration Inc.) and Calvin Wallen AND some other companies he controls where allegedly the stolen money ended up (in addition to Calvin Wallen's personal bank accounts). These allegations are all laid out by the Bankruptcy Trustee in the complaint, which you can find linked below.

This is my opinion, but there's strong reason to believe that the money allegedly stolen by Calvin A. Wallen III ended up in CVBT. If that's true, and assuming Mr. Wallen is found GUILTY in his upcoming trial, that will all but certainly be the end for CVBT, because the Bankruptcy Trustee will seek to seize the CVBT assets to recover the stolen Tauren funds.

What elevates this to a much more serious matter and lawsuit is that the Bankruptcy Trustee alleges that Calvin Wallen falsified documents and presented intentionally fraudulent information to the bankruptcy court. That's a "third rail." So in addition to his alleged theft of assets and defrauding creditors of Tauren, it's alleged he also intentionally lied to the bankruptcy court by creating fraudulent documents and then submitted them to the court as truthful and accurate. Wallen's alleged actions have brought in the U.S. Bankruptcy Trustee to the case, and according to what I was told by a bankruptcy attorney I reached out to (who is not involved), following a CIVIL conviction in this case, by law it will automatically be referred for criminal prosecution because of the nature and size of the alleged crimes. If Calvin Wallen is found GUILTY in this upcoming trial, he will with certainty be facing a criminal trial to follow. Does Calvin Wallen III end up in prison? The bankruptcy attorney I spoke with who is not involved in this case said, "highly likely." He also said to me, "The government does not lose cases like this." They didn't in Enron, and they're not likely to here.

I keep coming back to one key thing: Anyone falsely accused of these sorts of crimes would want this monkey off their back as quickly as possible. The last thing anyone truly innocent would be doing is seeking to delay, delay, delay, and dragging this out--which is what Calvin Wallen has been doing. It kind of says all that needs to be said. That, plus the Bankruptcy Trustee's listing of all the dates, times, and amounts that cash from Tauren was stolen, and the bank accounts that it ended up in (Wallen's, directly or indirectly). It's all detailed in the Bankruptcy Trustee's complaint, which you can find linked in below.

All of these allegations are public information, so to anyone who suggests that this is not precisely what I've indicated, please take a look at the actual court documents as I have. Facts are facts.

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