I once met the “King of the Texas Wheeler-Dealers.” His name is
Billie Sol Estes. He looks like a cross between Ted Kennedy and Orville
Redenbacher with his square black frames and square
jowled face. My dad was friends with him through a friend in Alcoholics Anonymous. They hit it off and come to know each other quite well, exchanging phone calls and meeting each other’s family. I met Billie Sol about 7 years ago at one of my dad's art exhibits. He, along with my extended family, joined us for lunch at
Meer’s burger joint in the Wichita Mountains of Oklahoma. I studied the man watching his eyes. He sat near the window, slightly hunched, not saying much of anything. But at nearly 80 years old, you'd never have guessed that he was present when the order to kill John F. Kennedy was sent down.
At the art exhibit, I was standing near my dad and Billie Sol when a man of about 70 approached. The man immediately recognized Billie Sol’s face. He had recognized it from about 40 years before in which the man had been employed in some capacity that involved meetings at the White House. He approached Billie Sol saying “I remember seeing you standing next to LBJ at the White House in 1961.”

Billie Sol Estes was a crook. He served time for his various schemes plotted in the West Texas desert town of Pecos. His main scheme, the one he got sent to the joint for, involved procuring loans using cotton crops as collateral. He had a bizarre method of having cotton allotments transferred to his ownership. He
didn’t own the cotton itself, but his name was on the books. He not only received government subsidies for that ownership, but he was able to procure bank loans using this non-existent cotton as collateral.
Estes’ scheme began during the 1950s, a period in which the federal government was cutting back on crop production. Billie Sol’s business at the time was selling irrigation systems using natural gas instead of electrical energy. Naturally, Billie Sol’s business was bound to suffer from the government-mandated freeze in crop production. Billie Sol’s scheme would take the help of officials high in the government and there was none higher in Texas than Lyndon
Baines Johnson.
Leading up to his indictment, during the 1940s and 1950s, Billie Sol became part of the Good-‘
Ol Boy network that ran Texas politics. He used his considerable wealth and web of political connections to get things done, both for himself and his benefactors. Texas politics, like most southern states at the time, was run by political bosses. One
didn’t get to the top of the Texas political heap without lots of cash and lots of favors. Things were no different for the future President.
By 1960-61 Estes’ cotton scheme was under investigation by a man in the U.S. Department of Agriculture named Henry Marshall. The short version of the story was that Marshall had discovered a web involving Estes, LBJ, and other big-wigs in Texas. Much of LBJ’s political fund at that time had been financed directly by Estes’ scheme. LBJ’s ability to peddle his influence undoubtedly helped Estes along, but it also ran the risk of toppling his political empire - the one that had led to his position as Vice President.
Seeking to keep Billie Sol’s scheme from hemorrhaging, taking the whole Good-'
Ol Boy network down in the process, LBJ and his henchmen oversaw a hit on Marshall. A LBJ and Estes associate by the name of
Malcolm Wallace was tapped to do the job. Wallace is a compelling figure in this case. Reading documents of the events leading up to JFK's assassination, Wallace's name seems to be enveloped in a shroud of mystery. Wallace was introduced to Lyndon Johnson by Johnson's legal counsel,
Ed Clark. Soon after meeting, Wallace began having an affair with Johnson's sister, Josefa. Josefa was also carrying on a relationship with the owner of a small golf course, John
Kinser.
Kinser reportedly tried to use Josefa to extort money from her brother, and, upon failing, tried to blackmail the then-Texas Senator. Wallace murdered
Kinser at his golf shop on October 22, 1951. Interestingly enough, Wallace was convicted and sentenced to life imprisonment, but his sentence was overturned and commuted by Judge Charles O.
Betts.
Fast forward to June 3, 1961. Wallace met Marshall to “discuss” the investigation into Billie Sol’s scheme. After a heated argument in which Wallace realized he
wasn’t going to be able to sway Marshall’s decision to expose the operation, Wallace killed Marshall. At first, he struck him in the side of the head knocking Marshall to the ground. Next, he attempted to expose Marshall to carbon monoxide poisoning by placing his mouth on his truck’s exhaust pipe. Wallace was reportedly spooked by a by-passing truck so decided to speed up the hit by shooting Marshall four times with a bolt-action rifle.
The coroner ruled Marshall’s death a suicide although this ruling was later overturned. One question arising from this faulty autopsy was how Marshall could have squeezed off four rounds into his own head.
After serving a prison sentence for another scheme, Estes offered up information that would implicate LBJ in the murders of the aforementioned victims, a couple of other players, and his own sister. He also claimed to have a second-hand report from Cliff Carter that Mac Wallace ran the leg work of the JFK assassination. Wallace allegedly corralled Lee Harvey Oswald and Jack Ruby - in different capacities - and fired the shot from the grassy knoll.
**The first half of the story is true; the second half - the part about JFK's murder - is specious at best. Billie Sol Estes is a twice-convicted felon and opportunist of the highest magnitude. While history clearly shows that he was in cahoots with LBJ and knew of political murders that LBJ carried out, there is little support for Estes' claim for LBJ's involvement in the JFK plot. I'm more than willing to believe the conspiracy theory, but for having such a compelling story, Estes has
a really lame personal website. This raises red flag number 70 something.