And that is what it is, complete spin.
The Joplin Globe, purportedly the area's newspaper of record, and city officials have ignored reports that the company was having financial problems and that David Wallace was playing fast and loose with the truth,
The news that Wallace-Bajjali had a December 31 deadline to repay cheated investors in the BizRadio scheme was published June 26, 2014, in the Turner Report, but even if somehow the Globe and city officials ignored that report, or did not find it a reason to be concerned, there have been other reports that should have raised warning flags.
This was published in 2013 in the Turner Report:
Though the Wallace-Bajjali firm was not the name on the filing, Joplin’s master developers filed for bankruptcy January 1, 2013, and are more than $6 million in debt, according to documents filed in the U. S. Bankruptcy Court for the Southern District of Texas.
River Square Center Partners, the company that filed for bankruptcy, shares the same address and the bankruptcy petition was signed by Costa Bajjali. The River Square Center complex, which is operated by Wallace-Bajjali Development Partners, filed for Chapter 11 bankruptcy after defaulting on a $6,527,321.10 debt to Wells Fargo Bank, according to the court documents. The events leading to the bankruptcy were described in court documents: