Bayou Founder Sentencing Delayed

Nov 16 2007 | 11:03am ET

Bayou Group fraudster James Marquez’s sentencing on fraud charges has been postponed.

Marquez, who founded the collapsed Stamford, Conn.-based hedge fund with Samuel Israel, pleaded guilty to defrauding investors of more than $10 million last December. A federal judge in Manhattan rescheduled his sentencing hearing for Tuesday to allow attorney for both sides to settle issues raised by the defense last week.


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The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.