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Real Name: Wallace Samuel Thrasher
Aliases: Squirrel, Wally
Wanted For: Drug Trafficking
Missing Since: October 27, 1984

Case

Details: Forty-four-year-old Wallace Thrasher of Bland County, Virginia, was one of the most successful and most flagrant drug runners in the Eastern United States. However, his organization came to an end in 1984. On October 17, Virginia State Troopers converged on an eerie scene. A small airplane, a single-engine Beechcraft Bonanza, had crashed into the remote wilderness on Fancy Gap Mountain. Still strapped in the cockpit was a body charred beyond recognition. But it was the plane’s cargo that riveted the attention of police. In smoldering heaps strewn over the crash site was 1,200 pounds of high-grade marijuana. Its street value – more than $1 million. For the authorities, the crash was something of a godsend. Eventually, they would connect both the plane and the dead pilot, twenty-four-year-old Mark Bailey, to Wallace.
Back in high school, when Wallace belonged to the Key Club and the Latin Club, he hardly seemed the type to end up peddling drugs. He played on the football team and earned the nickname "Squirrel" for his ability to outrun trouble. After a stint in the Navy, he worked selling clothes and airplanes, bartending, and occasionally modeling. But somewhere along the way, he went "wrong." Today, his whereabouts are the subject of unending speculation. Former associates insist he died in Central America. But authorities suspect that he is once again on the run.
From the late 1970s to the early 1980s, Wallace’s multi-million-dollar operation purchased tons of marijuana and cocaine from Colombia, Central America, Mexico, and the Caribbean. The drugs were first flown to Florida; then, they were flown to the western region of Virginia. Distributors then smuggled the drugs north to Chicago, Detroit, and other big cities. An experienced pilot, Wallace often flew the planes himself. Many of his neighbors seemed to regard him as a kind of local hero.
Drug Enforcement Agency (DEA) Special Agent Donald Lincoln says that in Western Virginia, for about 200 years, local moonshiners were the "swashbuckling, pirate, buccaneer type" of people in the area. He says that, to some extent, dope pilots are the modern-day moonshiners, and it takes the same kinds of talents to smuggle dope in by air as it does to run a load of moonshine. W.J. Evans of the Virginia State Police says that Wallace was the type of person who was not afraid to let everybody know what he was doing. Basically everybody that had contact with him at the airport and in the areas where he was doing his "business" knew he was transporting drugs.
The rewards of Wallace’s life of crime were on display for everyone to see. He and his wife, Olga, owned a ten-acre country estate in Bland County and surrounded themselves with luxury. They and their children lived in a ten-room, two-story log cabin, which he had built. It had a Jacuzzi, satellite dish, and separate guest house. It was worth over $200,000. They also had a second home in Florida which they often flew to. Along with that, they often paid large bills in cash. Some people in the neighborhood wondered how he could afford such things on the income of a charter pilot, but few inquired. According to Agent Lincoln, Wallace was a very charming person; he was very generous to his associates and to the people who lived around him. He spent money very freely. As a result, there were many people who said kind things about him.
For nearly a decade, Wallace managed to stay two steps ahead of the law, until that fateful night when a plane full of marijuana slammed into a mountainside. It would take two weeks of painstaking investigation to turn up undeniable proof that Wallace owned the plane. A fictitious name had been used to register it. However, detectives discovered that he had paid cash for hangar fees and major repairs to the plane. His fingerprints were found on maps inside it. Detectives were planning to move in until an article appeared in the local paper, titled Pulaski native reportedly dies in crash. Wallace was dead.
Soon after, Virginia authorities tried to speak directly with Olga. A man who answered the door at the Thrasher home said she was unable to speak with them. They asked him about Wallace’s death; he told them that Wallace had died in a charter plane crash in Jamaica on November 5, 1984. The investigators departed unimpressed. Those who attended the memorial service were told that he died in a crash in Puerto Rico. Others heard Central America or Africa. Later, Olga produced a death certificate as proof of Wallace’s fatal crash in Jamaica. She said friends had told her about the crash. Still suspicious, police sought to verify the information.
According to Assistant Special Agent David Dean of the Virginia State Police, their investigation revealed that the death certificate was fraudulent, that no one in Jamaica knew of the crash, and that there was no evidence whatsoever of a crash occurring on that date. Archibald Gunter, Jamaica's director of civil aviation (and an air crash investigator), could find no record of the crash or the doctor who supposedly signed the certificate. The disclosures convinced authorities that Wallace was still alive, and as a result, they filed charges of drug smuggling and conspiracy against him in February 1985. But with his whereabouts unknown, Olga was again questioned by the authorities.
Eventually, Olga agreed to tell investigators what she knew about Wallace's operation. She began with the night of the Virginia plane crash. She confirmed that the plane belonged to Wallace; she also said that there had been a second pilot onboard: Nelson King. He had been seriously injured in the crash. While walking to get help, he washed off his cuts with a garden hose in the yard of a nearby house (this was witnessed by the homeowner). Somehow, he was able to drag himself to a payphone in the parking lot of a nearby motel. Wallace picked him up at the very moment police were racing to the crash scene (police later traced the call through phone records). He took King to the Thrasher home, where he and Olga tried to treat his injuries (a neighbor reported seeing him there).
Almost immediately, Wallace began to assess the damage to his operation. He asked King what had happened. He said that they were trying to come in low under the cloud cover. Twice, he had to turn back in an attempt to gain altitude and fly over the mountain. When he realized they were still coming in too low, he tried to fly them out of there. However, he was unsuccessful, and they crashed into the mountain. Wallace was well aware that the plane could be traced back to him, and that it was just a matter of time before the authorities would be knocking at his door.
Later, Wallace spirited King to a Florida hospital, claiming he was a motorcycle crash victim. Then, he dropped from sight himself. Olga went on to tell investigators that about two weeks after the crash, Wallace stuffed a quarter of a million dollars in cash into a travel bag and departed on a small plane for the Central American country of Belize. He had said that he planned to buy a load of marijuana and then return to the United States. But some believe he never intended to come home, and that the $250,000 was a down payment on a new life.
On October 27, 1984, Olga talked with Wallace on the phone. He said to her: "I promise I'll be home by Wednesday. I will fight...whatever to get home to you." That was the last time she heard from him. About a week after he left, she received a call from two of their associates down in Belize, advising her that he had died in a plane crash. They told her that on November 5, he had packed his twin-engine Piper Navajo with marijuana at an airport near Dangriga, Belize. He took longer than usual to run through his pre-flight checks. He taxied along the runway, stopped, and checked his plane again. He then got back in and took off.
After getting about 100 feet in the air, one of the plane's engines failed, possibly because the plane was overloaded. It rolled violently out of control and crashed into the jungle. The fire resulting from the crash burned for hours. The associates said that it had been so intense that the plane and everything inside was burned down to the ground (only an outline of it remained). As a result, there was very little for them to send back to her and no reason for her to come down there.
Olga contacted her attorneys, Max Jenkins and Carl McAfee, with the problem of how to handle Wallace’s estate: how would she inherit things, how would she spend money, how would she take money from accounts, etc. In the end, she admitted she bought the fake death certificate (with Jenkins' and McAfee's help) and concocted the tale of a Jamaican plane crash. She had feared that her property would be confiscated if authorities learned Wallace was on a drug run when he died. Indeed, the government later seized some $400,000 worth of their property under federal racketeering laws allowing such seizure if it is suspected the property was bought with proceeds from criminal activity.
But even the crash in Belize started to seem like a fabrication after one of Wallace’s former associates showed up in May 1986. He told Olga that he went to the spot where the plane had crashed in Belize. He was told that the fire was so bad, they just bulldozed whatever was left of the plane into a hole. He said that while there was not much left of the plane, he did get some proof that Wallace was onboard: his wedding ring. The associate said that he got it and a few other personal effects from a person who was there when the crash occurred.
The ring was in perfect condition – inscription as sharp as the day it had been engraved. For detectives, that was part of the problem. Olga confirmed with them that it was definitely Wallace’s wedding ring. They found it difficult to believe that the crash of a fully fueled plane would cause its substructure to melt yet leave a ring in perfect condition. Agent Lincoln believes that if it had been in the crash, it would have "been an ingot." However, laboratory tests on it showed no indication of exposure to extreme heat or fire.
Olga would later find herself also in trouble with the law. On March 13, 1985, a few months after Wallace's disappearance, she was arrested and charged with conspiring with another person to abduct and kill King. Prosecutors claimed that she believed King had failed to pay for a $250,000 load of marijuana and that Wallace had been killed in retribution. She reportedly gave Freddie Gilbert, who lived in the Thrasher’s guest house, $500 and told him to buy a gun, "preferably with a silencer." She planned to abduct King, interrogate him regarding the missing $250,000, and then have Gilbert kill him. She asked him to "make it look like an accident."
Gilbert went to the police and agreed to secretly tape conversations with Olga. Shortly before the meeting between Olga and King was to take place, King was arrested on drug smuggling charges in Florida. Olga was arrested soon after. She initially denied the charges. However, on May 13, she pleaded guilty to money laundering, helping King elude authorities and conspiring to abduct him. As part of her plea agreement, she agreed to testify against King and others involved in Wallace’s operation. She even agreed to testify against Wallace if he ever showed up. In March 1987, she was sentenced to three years' probation.
Olga assisted the DEA in an undercover operation that resulted in the largest drug bust in Virginia history. More than $150 million in cocaine and cash were seized and thirteen international drug traffickers were arrested. Her testimony led to the arrest and conviction of several more drug smugglers, earning her the nickname, "The Black Widow." She even helped authorities convict one of her attorneys, Carl McAfee, on charges of money laundering and aiding and abetting. He had allegedly helped her stay in the drug business after Wallace's disappearance. Meanwhile, in May 1985, King was convicted on drug charges and sentenced to six years in prison. Both McAfee and King have since been released from prison.
Years have passed since Wallace left for Belize with a change of clothes and a quarter of a million dollars. Did he perish in a fiery crash in the jungles of Central America? Or did the "Squirrel" once again dash to freedom? Agent Lincoln says that Wallace was facing a lot of different problems at the time of his disappearance. He had problems within his own organization. He was facing serious prison time if caught. Agent Lincoln believes that the "crash" was an opportunity for Wallace to avoid the charges and start a new life. He believes Wallace was intelligent enough to do so. In fact, he was known to use several aliases in the past.
Some investigators believe that Wallace was later killed by drug runners in a "double cross." His family and friends, including Olga, insist that he died in the Belize crash. Some federal authorities agree, noting that a witness reported being at the airport when the plane crashed. According to them, the witness's account was consistent with other evidence in the case. Others, including Agent Lincoln, believe Wallace is still very much alive, either somewhere in Florida or the Caribbean. If he is still alive, he would be in his early eighties. He was born on June 27, 1940. He is between 5'10" and 6'2", weighs 175 pounds, has blue eyes, and brown/gray hair. He has a scar on his arm. He may be working as a pilot.
Extra Notes:

  • This case first aired on the February 10, 1995 episode.
  • It was also featured on America’s Most Wanted.
  • Some sources state there were 570 pounds of marijuana on the plane that crashed in Virginia. Some state that the Belize crash occurred on November 4, 1984.
  • The body found in the Virginia crash was initially believed to be Michael Joel Goldstein; he was listed as the previous owner of the plane and reportedly fueled it at an airport in Florida a few days before the crash. However, he was ruled out through fingerprint comparison. The body was later identified as Bailey's. It is not known if Goldstein was ever located.

Results: Unresolved. In August 2015, prosecutors dropped all of the charges against Wallace, citing unspecified evidence that he is dead. The decision was made after a routine open case review. Prosecutors stated that even if he is alive, it would be difficult to convict him because too much time has passed and witnesses have died or are no longer available. Most investigators now believe that he probably died in the Belize plane crash. However, neither he nor his remains have ever been located.
In 2020, author Ron Peterson Jr. released a book about the case titled Chasing the Squirrel. He learned about the case while working on a book for another Virginia case. He interviewed Wallace's family and friends, former drug smuggling associates, and several former investigators. A Los Angeles film company acquired the rights to the book and is currently producing a multi-episode documentary series about it, called Where's Wally?. Most of those interviewed for the book will also be interviewed on-camera for the series.
Most of Wallace's loved ones (including Olga and their children) maintain that he died in the Belize crash, while others believe that he faked his death and may still be alive. Peterson believes that he initially faked his death, but actually died sometime later. His family still hopes to find his remains (if there is anything left) and bring them back to the United States for burial.
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