CardioVascular BioTherapeutics (fka CVBT)

[walhall]

Dead & Deader: The aftermath of Venturis/CVBT taken over by an alleged crook

All that awaits Venturis Therapeutics shareholders is the inevitable bankruptcy filing after having lost a 7-figure judgment at the hands of its former CEO, Dan Montano. Venturis is deader than Herman Cain. This was the inevitable result when an alleged crook, Calvin Wallen, took over Cardiovascular Biotherapeutics (or CVBT, as this company was called before the name was changed to Venturis Therapeutics) based on false promises (also known as lies) made to shareholders.

BTW, no shareholders meeting was held in 2020, in VIOLATION of the company's bylaws and promises made to shareholders by Calvin Wallen III. Further, a series of lies were anonymously disseminated promising that the shareholders meeting would be held in the fall of 2020 when it didn't happen in May 2020 as was required. Well, we know how that played out.

A shareholder recently reported calling the company. No one answered the phone, so the shareholder left a message. Was the message returned? Of course not! Dead, dead, dead, deader, deadest...you pick.

As for the alleged crook Mr. Wallen (and it will be nice to be able to soon drop the word "alleged"), we will be learning soon when his upcoming trial brought by the U.S. government will take place, for allegedly stealing $14 million from his previous company, Tauren Exploration. Mr. Wallen has pursued a scorched earth approach to delaying his trial, with an assist from coronavirus, but the law is coming for him. While some form of "settlement" was supposedly reached late in 2020, the date came and went in December 2020 when it was supposed to be publicly presented to the bankruptcy court. What happened? We will find out soon. A hearing is scheduled for next week, and the smart money has it that the attorneys for both sides will tell the judge that the "settlement" failed and the case should now proceed to trial. Let's see what happens. Once the trial happens and assuming Mr. Wallen loses the case (a near-certainty), it will be interesting to see what the IRS does, since even stolen money is taxable for the thief (and at that point we can drop the word "alleged"). I wonder if Mr. Wallen paid taxes on that $14 million? We will eventually find out.

For more information about this failed company and the alleged crook who is its CEO and controlling shareholder, read here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=156705047