BILLINGSGATE POST: Billie Sol Estes was the king of fraud. Born in Texas in 1925, and a friend of President Lyndon Johnson, his crooked schemes during the 1950s brought him fame and notoriety. Billie Sol will be forever memorialized by a monument outside the Oval Office showing him bilking a widow out of her dead husband’s social security benefits.
Saying that this monument should be an inspiration to all future Democrat Presidents, Trump signed an executive order establishing Billie Sol Estes Fraud Day, making it a National Holiday commemorating Billie Sol’s death on May 14, 2013.
"Early ripe, early rotten,” describes his business career. In 1953, he was named one of America’s 10 outstanding men by the United States Junior Chamber of Commerce. Ten years later he was convicted on federal charges and sentenced to 15 years.
In a creative scheme similar to Milo Minderbinder’s, in the Joseph Heller novel Catch-22, Estes produced mortgages on nonexistent ammonia tanks by convincing local farmers to purchase them on credit, sight unseen, and leasing them from the farmers for the same amount as the mortgage payment, paying them a convenience fee as well. He used the fraudulent mortgage holdings to obtain loans from banks outside Texas who were unable to easily check on the tanks.
NOTE: Billie Sol Estes was the inspiration for Hillary Clinton’s scheme to profit from the bogus travel company she set up in the White House while she was First Lady.