Fort Bend Independent

Page 1

VOL 4 No. 22

Phone: 281-980-6745

www.fbindependent.com .fbindependent.com ww

FORT BEND FAIR. BALANCED. INFORMATIVE. WEDNESDAY, JUNE 1, 2011

P. O.BOX 623, SUGAR LAND, TX 77487-0623

Official newspaper of Fort Bend County, Missouri City & Sugar Land

Sugar Land pays tribute to war heroes The city of Sugar Land hosted a Memorial Day ceremony at the Memorial Park on Monday. Hightower High School JORTC presented colors, a First Colony Middle School student led the audience in Pledge of Allegiance, and Jake Messinger sang the National Anthem. Dr. Phil Lineberger, pastor at the Sugar Land Baptist Church, gave the invocation. Austin Parkway Elementary student Kyuri Baag and First Colony Middle School student Katie Vaughn read patriotic essays. Sugar Land Mayor Jimmy

Thompson gave the welcome remarks and read a proclamation issued by Gov. Rick Perry. He also acknowledged that State Rep. Ron Reynolds has sent a state flag flown on the Texas Capitol. U.S. Rep. Pete Olson (R) was the guest speaker. It is a time to reflect on the sacrifices made by our men and women for our country’s wars, Olson said. “Freedom is not free. It is worth dying for. Our freedoms come at a high price— blood, sweat, tears and lives of thousands of brave Americans,” he

Volunteers set the doves free from cages marking love, peace and celebration of life during the ceremony.

said. After Boy Scout Troop 731 placed the wreaths, with a 21gun salute by the Sugar Land Police Honor Guard and Bag Pipes by Lt. Robert Rogers of Sugar Land Fire Department, Rev. Bob Dunham of St. Laurence Catholic Church gave the benediction. Houston Concert Band, led by Rice University Director of Bands Chuck Throckmorton rendered patriotic songs throughout the program. David Born, host of the TV show Friday Night Live, was Councilmembers Don Smither, left, Michael Schiff, Jacquie Chaumette, emcee David Born, rear, Mayor Jimmy Thompson, U. S. Rep. Pete Olson , Councilwoman Bridget Yeung and the master of ceremonies. Councilman Russell Jones stand as Rev. Bob Dunn delivers the benediction.

Col. Dave Kiger, U.S. Army retired, salutes as vintage airplanes fly over during the Sugar Land Memorial Day ceremony. —Photo by Larry Pullen.

William Bradford, second from left, and Jack Thomas Bradford, accompanied by grandmother, Betty Clark, left and father, Reed Bradford, were among the audience at the Memorial Day ceremony.

Wallace, Bajjali pay $120,000 in fines to SEC By SESHADRI KUMAR Former Sugar Land Mayor David Wallace and his business associate Costa Bajjali have been ordered to pay a civil penalty of $60,000 each by a Federal Court in a complaint filed by the Securities and Exchange Commission. On May 20, the SEC filed a suit in the U.S. District Court for the Southern District of Texas, Houston division, against real estate developers Wallace and Bajjali in connection with two fund offerings. On May 24, District Judge Ewing Werlein, Jr. signed the

agreed final judgement. The SEC complaint said, “Defendants... have negligently obtained money or property by means of untrue statements of material fact or omissions to state material facts necessary in order to make the statement made ... and negligently engaged in transactions, practices, or courses of business which operate or would operate as a fraud or deceit.” The Commission’s complaint alleged that from November 2006 through December 2008, Wallace and Bajjali offered and sold interests in

10701 Corporate Drive, #282, Stafford, TX 77477 Mailing Address: P.O. Box 623, Sugar Land, TX 77487 Seshadri Kumar Publisher & Editor

www.fbindependent.com 281-980-6745

Fort Bend Independent, (USPS 025-572) is published every Wednesday (for a subscription rate of $20 per year) by Fort Bend Independent, LLC., 10701 Corporate Dr., #282, Stafford, Texas 77477. Periodicals Postage Paid at Stafford, Texas. POSTMASTER: Send address changes to Fort Bend Independent, P.O. Box 623, Sugar Land, Tx 77487.

the Wallace Bajjali Investment Fund II, L.P. (WB Fund) and the Laffer Frishberg Wallace Economic Opportunity Fund, L.P. (LFW Fund). The complaint further alleged that the private placement memoranda (“PPMs”) for these funds stated that an investment in any one business would be limited — to 33 percent in WB Fund and 20 percent in the LFW Fund. However, both funds failed to invest according to the promised guidelines and exceeded the PPMs’ stated limitations by investing heavily in Business Radio Networks, L.P.

Kids of every age enjoyed the pre-parade demonstration by Missouri City Fire & Rescue, who also led the parade down LaQuinta and through the Cottage Section, whose residents hosted refreshments for participants of every age. Pictured center, amongst parade goers, is Missouri City’s own Luke “Firewalker” Satterwhite who donned full firefighting gear to demonstrate to these young residents the safety paraphernalia required to fight fires.

d/b/a BizRadio, a struggling media company. Contrary to the written representations to their investors, Wallace and Bajjali far exceeded these limits by heavily investing the Funds’ money in BizRadio. As a result, they subjected the Funds’ investors to substantially greater risks than the Fund’s written materials disclosed. By May 2007, the WallaceBajjali Fund had received

offering proceeds of approximately $16 million and had invested more than $6.5 million of those proceeds in BizRadio. At the end of 2007, Wallace, Bajjali, and others created the Opportunity Fund, primarily to invest in real estate projects. The PPM for that fund indicated that the 20 percent ratio had to be in place when the fund closed to new investment.

By the time the Opportunity Fund closed in December 2008, it had raised approximately $7 million. Of that amount, it had invested approximately $4 million in BizRadio—approximately 57 percent of the offering proceeds—far exceeding the 20 percent investment limit. The suit against Wallace See WALLACE, Page 3

Mailer war mars campaign By SESHADRI KUMAR The Sugar Land City Council District 4 runoff race between Harish Jajoo and Farha Ahmed has become embroiled in an unseemly controversy. An anonymous mailer that raises the question whether Ahmed is linked to a Pakistani woman, Dr. Afia Siddiqui, was mailed to voters in District 4 last week. (Dr Siddiqui was sentenced last year in a New York court to 86 years for attempted murder of US soldiers in Afghanistan and has a nickname of Lady Al Qaeda. Her family, and many people in Pakistan believe she was seized by Pakistani agents for unknown reasons and the charges against were fabricated.) The controversy is further complicated because the source of the mailer is not identified. Material contained in the mailer was first posted on the Act! for America blog and its Facebook page in early May. Subsequently, the material was circulated via email. However, the issue did not surface publicly before the May 14 election, but has in the runoff. On May 27, Ahmed’s mother sent a mailer denouncing the accusations as lies and defended her daughter. While Ahmed has not commented on the issue, there is no hard evidence that suggests she is representing Siddiqui in her appeal. The only statement in the

April 14 report in The Express Tribune in Pakistan (affiliated to The international Herald Tribune) is that Siddiqui had fired her lawyers and that she would be represented by a Texas-based attorney, Farah Ahmed. The report also said that Ahmed declined to speak to The Express Tribune about Siddiqui. This information is the basis of the impugned mailer. Jajoo, distanced himself from the anonymous mailer, and sent an email blast to voters saying : “Recently, there was an anonymous mailer about my opponent. I have no knowledge as to who is behind this mailer, and I do not condone it. Rest assured that my campaign had nothing to do with it directly or indirectly.” It is not clear why Ahmed has refused to speak to this newspaper and has not responded to emails concerning the matter either. In fact, she walked away from this reporter at the Sugar Land Memorial Day ceremony on Monday in an apparent effort to avoid questions. In a previous incident at a candidates forum hosted by the Sugar Land Tea Party before the May 14 election, Ahmed expressed displeasure about a report in this paper, titled “Is Sharia law relevant in local elections?” The report was based on questions asked at a previous candidates forum hosted by the Spirit of Freedom Republican Women

PAC where questions pertaining to Sharia law were raised. Ahmed said the report was erroneous and contained many mistakes. The Independent made repeated offers to publish Ahmed’s clarifications, but she did not respond. One of the errors alleged by Ahmed was related to a reference about the opening of an “Islamic bank” in Sugar Land. Ahmed said it is not a bank, but, a credit union and the institution is not following Sharia laws. (The institution lists itself as a Muslim Credit Union.) Ahmed was also asked to clarify the rumors about Siddiqui. Ahmed may be able to gain sympathy as a victim of a smear campaign by remaining silent and refusing to squelch the rumor. Ahmed is not the first Muslim to run for an a elected office in Sugar Land. Dr. K. Azeemuddin ran against David Wallace for city council several years ago. Three years ago, Saeed Gaddi ran against Jacquie Chaumette for city council. Religion was never raised as a campaign issue in those races. It is for a reason that Sugar Land earned the title “Community of Respect” in 2007. The city continues to enjoy its reputation through its thriving diversity.


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