Monday, 30 March 2015
Last updated 29 min ago
Dec 13 2012 | 11:47am ET
Four years after he was sent to prison, the Bayou Group's Samuel Israel has emerged once again.
As with his June interview with The New York Times, in which the fraudster, who was convicted of ripping investors off to the tune of $450 million, said he'd killed some one, blamed the Central Intelligence Agency for the assassination of President John F. Kennedy and said word around the prison yard was that Bernard Madoff is "not a nice dude," his latest communication with the outside is connected with a book about him released in the summer. To mark the author's appearance before the New York Hedge Fund Roundtable last week, Israel sent a letter of apology.
The simultaneously self-aggrandizing and self-pitying missive told the 150 assembled, "I am deeply ashamed to have disgraced you all by proxy. I am sorry to have tarnished the business I love."
Israel, who is serving a 22-year prison sentence—20 for fraud, two for bail-jumping—warned the people he considers colleagues against taking the "easier path" as he did.
"The price is dear, as I found out," he wrote. "Nothing is worth this. Not the embarrassment, disappointment, failure—nothing."
The letter, read by Octopus: Sam Israel, the Secret Market and Wall Street's Wildest Con author Guy Lawson, silenced the room, the New York Post reports.
"Everyone sat on the edge of their seats," Tim Selby, president of the Roundtable, said.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…