All that the legal filing says is that the parties have reached a settlement. It says nothing as to what that settlement is. However, the settlement is going to be presented to the court, so we will get to see the terms very soon. And you can be sure I will share the terms with the public.
Brace yourself Venturis supporters, it's not going to be pretty. I can't wait to see the public acknowledgements Mr. Wallen will be admitting to.
If Mr. Wallen publicly acknowledges responsibility in any way shape or form, it's over for Venturis. Not one investor is going to ever put another dime into anything that Wallen does, whether Venturis or anything else. So let's see what's coming.
And by the way, if Mr. Wallen acknowledges having taken any of the money from Tauren in any way, shape, or form, even if he returns any part of it, this settlement is hardly the end of his problems. The IRS is going to want to take a look into whether there has been any tax evasion as well. For the record, tax evasion is a criminal felony. F-E-L-0-N-Y. And with 100% certainty, the bankruptcy trustee is going to make sure the IRS gets notification of this settlement as well. That sort of going-the-extra-mile is what happens when a-holes antagonize government officials, if the rumors are true. Scorched earth tactics come at a cost.
So unless the settlement is a complete vindication of Calvin Wallen III--and there's exactly a 0% chance of that--this is far from the end of Mr. Wallen's problems in this matter.
