Oracle (NASDAQ: ORCL) CEO Larry Ellison is secretly helping Blackstone Group with its bid to acquire Dell (NASDAQ: DELL), according to a conspiracy theory that’s now circling among technology CEOs. The conspiracy theory goes something like this…

By assisting with the buyout of Dell, Ellison can potentially:

It’s an intriguing conspiracy theory. But is it true? The Huffington Post earlier this week suggested Mark Hurd could wind up running Dell as part of the Blackstone Group bid. Initially, The VAR Guy doubted the report. But this new twist — involving Ellison as the secret power broker — almost sounds too logical to be true.

Ellison loves to shape up the market — and to shake up the competitive landscape. Getting involved in the Dell dealings could potentially rattle HP, IBM and Microsoft all at once…

Alas, The VAR Guy has no proof the conspiracy theory is true. But he’s banging on all the right doors looking for answers and clues…