Saturday, June 06, 2015

David Wallace given deadline to take personal financial management class

Former Joplin master developer David Wallace, who had no problem at all figuring out to do with other people's money, has a June 22 deadline to learn how to handle his own.

U. S. District Bankruptcy Court for the Southern District of Texas records show that a judge has ordered Wallace to complete "an approved instructional course covering personal financial management" by June 22.

Wallace also has had to go through credit counseling.

The former Joplin master developer filed for Chapter 7 bankruptcy in March a couple of months after he had resigned from Wallace-Bajjali Development Partners and all of its related companies, as a court-appointed receiver was taking steps to force Wallace and his former partner, Costa Bajjali, to repay $1.5 million they owe to cheated investors in the BizRadio scheme.

In bankruptcy documents, Wallace claims he has $11.5 million in debt, including $4.5 million of the $5 million he borowed from Prime, Inc., a Springfield firm to jumpstart Wallace-Bajjali's work in Joplin.


Anonymous said...

A lack of knowledge?

Does that appear to be the problem?

Anonymous said...

Kind of like the situation with Cj Huff and the old board: too little, and way too late. Action should have happened years ago. All the rats are leaving, but the ship just won't sink. It just is sitting there decaying while the politics of the old group, backed by the same people that brought the losers Wallace and Bajjalli, continue to do damage.

Joplin could have been so fantastic, but thanks to the efforts of some greedy, selfish people it is in worse shape now than ever.

Anonymous said...

What a joke! He's a con artist, not some wage slave in over his head with bills.

Anonymous said...

This is just like using abortion as birth control.

Anonymous said...

One thing I'm excited about is that Judge Bohm aint no fool. He knows this character from another bankruptcy lawsuit with Will Perry. Wallace thinks he's the smartest in the room and can carefully pull a fast one, well, not so fast buddy! Judge Bohm aint no fool. Watch out! Once Judge Bohm sees the extent of Wallace's criminal activity, he'll have to call in the FBI and the IRS. Meanwhile, lets all sit back and enjoy the show. Its going to get good.

Anonymous said...

Once the bankruptcy trustees (yes several) go through the "books", they will find all kinds of corruption, commingling and fraudulent transactions, and so much more we can't even imagine. This is one big crook with a criminal mind and knows exactly what he's doing. That is all he knows. He hasn't done or accomplished anything, unless you want to believe his lies. Borrowed $10,000 from this poor guy in November 2014 saying he needed it to sue Bajjali and for whatever reason. Got the money from his friend. Sued Bajjali. Then dismissed cased in 5 days and he kept all $10,000. Never paid the guy back. You bet Judge Bohm is listening. Wallace is sleazy and disgusting. Wallace will burn Bajjali in hell before he goes down with the flaming fire. No matter what both think, they better get ready for lengthy prison terms. They BOTH stole so much money and lied to so many. But the corruption and commingling of funds is what will put them away. I hope his exwife and those TWO daughters and mistress all go to prison too for benefiting from his illegal gains. I hope the ex-husband comes to court and files to custody of her kids. She isn't impressive. She's the joke of Houston. Poor thing.

Anonymous said...

FYI -- The snake in the grass of Wallace has taken the course already. He took it online on May 26th. He's operating smoothly for now.