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In Fort Bend County, we have two types of Republicans: the faith-based ones, and the greed-based ones. Of course, they fight each other like the Hatfields and McCoys.
Two men in particular were constantly baring their teeth at each other, Dean Hrbacek for the faith fretters and David Wallace for the greed stompers. They ran against each other once and it got nasty. You’ll remember Hrbacek as the guy who Photoshopped someone else’s trim body on his head. It got national attention.
Wallace countered with a very bizarre You Tube about how he’s mayor of Sugar Land and Sugar Land is a city of Jesus. Wallace was trying to form a faith/greed coalition.
Finally, the faith based group took over the official party so Wallace and his greed goblins formed a Republican Club, called The C Club. One of Wallace’s fancy pants, high-roller, wheeler-dealer business buddies was named treasurer – a man by the name of Albert Kaleta.
Last year, the receiver who took over Kaleta Capital Management, run by BizRadio co-founder Albert Kaleta, declared that Frishberg and Kaleta perpetuated “a blatant, intentional fraud” by transferring investor funds from Kaleta Capital to the radio network without revealing that BizRadio’s assets were pledged to third parties.
Kaleta Capital has no liquid assets and its investors are owed $10 million.
And how does David Wallace fit into this?
Based upon the Receivers’ investigation of the facts and circumstances surrounding the offer and sale of the BizRadio notes, it appears that many of those investors were introduced to BizRadio by and through the Wallace Bajjali affiliates and Messrs. Wallace and Bajjali. Indeed, there is significant overlap between investors (1) directly in the Wallace Bajjali entities, (2) in BizRadio notes and (3) in KCM notes.
David Wallace and his book. It's awful, but most of the words are spelled correctly.
He’s either the dumbest sumbitch on the planet or has fully earned the Greedmaster title. Even if Kaleta is your friend, why would you keep sending your investors to his obviously failing business?
Hrbacek and his faith flock has financed a one-man-operation newspaper. It’s called, ironically, The Fort Bend Independent. Imagine Fox News with most of the words spelled incorrectly.
The “Independent” keeps the story alive locally, even if they don’t fully understand it.
Now Lord knows I do not want to stir the flames between the Super DeLux Brand Christians and the Greedy SOBs, but somebody has to tell this story. Yes, they do.