Posted on · An audit by the State of Missouri shows the Sugar Land real estate developer had inside information on the selection process for a master developer for the City of Joplin. A tornado destroyed much of the city in May 2011.
Posted on · The Missouri city won a $1.5 million default judgment against Wallace Bajjali Development Partners, formerly based in Sugar Land, last week.
Posted on · The Missouri city sued the development firm, formerly headquartered in Sugar Land, in March for fraud and breach of contract.
Posted on · The suit comes a day after former Sugar Land Mayor David Wallace filed for bankruptcy in Houston.
Posted on · Wallace Bajjali Development Partners lost millions of dollars in the 2009 collapse of the BizRadio Ponzi scheme. The firm survived by reinventing itself, focusing on urban renewal projects. It managed this thanks to the reputation partner David Wallace had built as mayor of Sugar Land. But that reputation was not all that it seemed.
Posted on · The January breakup of Wallace Bajjali Development Partners left a string of clients in the lurch - including the tornado-blasted city of Joplin, Missouri. The firm's demise followed years of legal troubles, stemming from its involvement in a multimillion dollar Ponzi scheme.