Media Bring Light to More Rob Wallace Business Troubles
New Documents Cite “Fraud, Misappropriation”
(Oklahoma City) - The Oklahoma Republican Party today highlighted new documents that indicate a failed mining company in which Rob Wallace was a 39% owner, “defrauded a group of investors and misappropriated their dollars.” A Tulsa County judge handed down a $500,000 judgment in favor of the investors.
“As we discover more about Rob Wallace’s checkered business background, even more questions seem to be arising,” said OKGOP Chairman Matt Pinnell. “We now learn Mr. Wallace was named in three separate lawsuits for questionable practices by a failed mining company in which Mr. Wallace held a 39% stake.”
Much has been reported on lawyer Rob Wallace’s failed business dealings in the former Soviet Union, but new legal documents from Tulsa and Oklahoma County District Courts have created many more questions for Wallace to answer about his involvement as owner/attorney of the Scott Branch company.
Court documents released by the McCarville Report indicate the failed mining company was responsible for, “siphoning investor funds,” a property default, “wanton” and “reckless” fraud, and a breach of fiduciary duty that was explained as “intentional and/or reckless.” At the center of it all was 39% owner, Rob Wallace.
“Perhaps this is the scandal that caused the White House to abruptly end their vetting of Mr. Wallace for US Attorney,” said Pinnell. In October of 2009, the Tulsa World reported that the Obama Administration had unexpectedly ceased their vetting of Mr. Wallace for the US Attorney for the Eastern District of Oklahoma.
“Would you enter into a business agreement with this person,” asked Pinnell. “If not, why in the world would you even consider sending him to Congress?”