UPDATE: Bayou’s Israel ‘Armed And Dangerous’

Jun 12 2008 | 11:43am ET

Federal marshals have issued a wanted posted for Bayou Group co-founder Samuel Israel, saying the missing hedge fund fraudster should be considered “armed and dangerous.”

Justice Dept. Wanted Poster for Samuel IsraelJustice Dept. Wanted Poster for Samuel IsraelThe U.S. Marshals Service in New York issued the poster today, three days after Israel’s SUV was found on a bridge 40 miles north of the city with the words, “suicide is painless” etched into the dust on its hood. New York State Police and the Federal Bureau of Investigation have found no body or other evidence that Israel actually leapt from the span over the Hudson River, with the latter believing that Israel was picked up from the bridge by another vehicle. Both the FBI and U.S. Marshals are searching for Israel, and a bench warrant for his arrest was issued on Monday.

A spokesman for the U.S. Marshals Service said the “armed and dangerous” language is fairly standard for wanted posters.

“If this is a guy who is still with us, he’s probably pretty desperate,” Steve Blando said.

There is currently no reward on offer for information leading to Israel's capture, the Marshals Service says.

Israel was set to report to a prison Monday in Massachusetts to begin a 20-year sentence for defrauding investors of $450 million.

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Arrest Warrant Issued For Missing Bayou Fraudster
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