Bootlegger
Wallace later became a bootlegger in Atlantic City. Harry March his 1934 a book titled Pro Football: Its Ups and Downs, which documented the Canton-Massillon betting scandal, called Wallace "The King of the Bootleggers". In 1933 he was convicted of evading income tax payments and sentenced to one year in a federal penitentiary. He was formally accused of evading payment to the government of $4,196.72 in 1929 and $1,953.52 in 1930. He was indicted when books and records from the Egg Harbor Brewery which disclosed, according to the government, income tax evasions in 1929 and 1930.
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