Arrest Warrant Issued For Missing Bayou Fraudster

Jun 12 2008 | 2:00am ET

A federal judge has issued a bench warrant for the arrest of Samuel Israel, the Bayou Group co-founder who make have faked his suicide to avoid reporting to prison.

The warrant was issued Monday—the day that Israel was to report to a Massachusetts prison to begin a 20-year sentence for defrauding investors of $450 million—but not announced until yesterday.

Israel’s SUV was found on the Bear Mountain Bridge, 40 miles north of New York City, on Monday afternoon. It had the words “suicide is painless” etched in the dust on its hood, but Israel’s body has not been found, despite days of searching the Hudson River below.

“At the request of the U.S. Attorney’s Office that same day, United States District Judge Kenneth M. Karas issued a bench warrant in White Plains federal court for Israel’s arrest,” Michael Garcia, U.S. attorney for the Southern District of New York, said. “The United States Marshals Service and Federal Bureau of Investigation are actively searching for Israel and have not ruled out any possibilities.”

The FBI reportedly believes that Israel was picked up from the bridge by another vehicle and spirited away.

“A dose of professional skepticism is appropriate,” FBI spokesman Jim Margolin told USA Today. “We are taking certain steps to ensure he doesn’t leave the country.”

He added, “we and the marshals will continue to look for him until we find him, in whatever condition he may be.”

RELATED STORIES

Feds Suspect Israel Faked Suicide
FBI, Marshals Hunt For Missing Bayou Fraudster
Bayou Group Founder A Possible Suicide
Bayou’s Israel Gets 20 Years

Bayou Group Head To Be Sentenced Today


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.