How's this for a conspiracy theory...?

My editor just got off the phone to a senior citizen who lives in nearby Calista.
He told her that his brother, who works for the Sun Telegraph over east, was working for the same paper when Harold Holt went missing all those years ago.

Apparently the Sun Telegraph had a photo showing the conning tower of a US submarine sticking out of the water at the same spot where Holt went swimming and never came back.
The journalist had written the story and the paper was about to go to print when the Australian Federal Police came into the office, seized the photo and all records of it, stopped the story from going to print and swore everyone involved to secrecy.

Looks like that last part didn't work too well, and of course none of this can be verified but it came from a guy who doesn't have a propensity for telling tall tales so you never know...