Billie Sol Estes is an American former financier best known for his association with U.S. President Lyndon B. Johnson

Lyndon B. Johnson

Lyndon Baines Johnson , often referred to as LBJ, was the 36th President of the United States after his service as the 37th Vice President of the United States...

. Mr. Estes currently lives in Granbury, Texas

Granbury, Texas

Granbury is a city in Hood County, Texas, in the United States. As of the 2000 census, the city population was 5,718. It is the county seat of Hood County and the principal city of the Micropolitan Statistical Area....

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In the late 1950s, Estes was heavily involved in the Texas anhydrous ammonia business. He produced mortgages on nonexistent ammonia tanks by convincing local farmers to purchase them on credit, sight unseen, and lease them from the farmers for the same amount as the mortgage payment, paying them a convenience fee as well.