CardioVascular BioTherapeutics (fka CVBT)

[walhall]

FRAUD TRIAL UPDATE FOR CVBT's CEO CALVIN WALLEN III

There's some news regarding the upcoming fraud trial of Cardiovascular Biotherapeutic's CEO, Calvin Wallen III, brought by the U.S. government Bankruptcy Trustee for Tauren Exploration Inc.. Mr. Wallen is accused by the U.S. government of allegedly stealing $14 million from Tauren Exploration Inc., the company Mr. Wallen was running prior to his hostile takeover of CVBT, which ended up in bankruptcy. The U.S. government Bankruptcy Trustee further alleges that Mr. Wallen falsified documents and financial records and submitted them to the bankruptcy court, which is a felony offense. All of this was discovered by forensic accountants brought in by the initial bankruptcy trustee. The trial had been most recently scheduled to take place at the end of October 2019, but Mr. Wallen has successfully delayed the trial yet again, for a total of nearly 1.5 years to this point. Delay, delay, delay. Once there is a re-scheduled trial date, I will share that information.

The good news in this is that ALL OF THIS INFORMATION IS IN THE PUBLIC RECORD, and anyone can review the documents for themselves to confirm the narrative and information I've posted here. I've read a number of the documents and in my opinion, the government lays out a damning case against Mr. Wallen. But you need not trust my opinion or judgment, you can read it all for yourself (links below). A TX bankruptcy attorney I spoke with who's aware of the outlines of the case told me that "the government does not lose cases like this." Time will tell.

Here are the links to the court records in these related 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