Bill Wallace was a thriving industrialist, boss and friend of Tony Maychek.
Due to lack of resources, Bill was compelled to dump his excessive toxic chemicals illegally. After finding a seemingly secured mine shaft, Wallace started burying his waste in it. The shaft was abandoned and sealed, which made it unlikely for any danger to come from it. Despite his friend Tony Maychek's reluctance, Wallace guaranteed that this avenue was but temporary, until the company could make a profit.
Despite the D.A. suspicions, there was never enough evidence to build up a case, so Wallace went unscathed and his career prospered. After a tragic accident that buried Tony alive, Bill took Jackie under his care, and raised her as if she was his own.
Over ten years later, Wallace had become a successful industrialist. One night, he was showing Jackie and her friends Terry and Dana the construction site for his new factory, when they were confronted with unusual circumstances. The earth stared shaking and splitting asunder, while barrels of toxic waste were thrown from within. Bill and Jackie managed to escape and made their way back home. He recognized the barrels and figured Tony was after Bill to take his revenge. Bill tried to get Jackie out of town, but was held back by Batman, who brought out his guilty conscience. Bill told Jackie and Batman all about the accident, assuring that he didn't know Tony was alive.
Shortly after, Earthmover abducted Bill and Jackie. Hundred feet under, Bill was accused of betraying him and stealing Jackie. Bill guaranteed he thought Tony was dead, and even though he assumed some accountability, Bill claimed he tried to make it up by fostering Jackie. Bill was willing to accept his punishment, but he pleaded Tony to release Jackie. Bill was nearly buried alive, until Batman stepped in and broke them out to safety. This incident apparently drew Bill and Jackie closer together, seeing as she called him "dad" for the first time in her life.