Not so far off. I think there was actually a case where a software engineer was outsourcing his work to China.
The story is here: http://www.theverge.com/2013/1/16/3882900/verizon-software-engineer-outsourced-his-entire-job-to-china
I wouldn't put it past Wally to have some elaborate scam going.
Ever noticed how some people seem fire proof no matter what they do? Never made redundant, never sacked, never do a day's useful work.