Bayou Group Fraudster Turns Himself In

Jul 2 2008 | 11:29am ET

Hedge-fund-fraudster-turned-fugitive Samuel Israel surrendered to police this morning after more than three weeks on the lam.

The Bayou Group founder turned himself in to police at 9:30 a.m. in Southwick, Mass., just outside Springfield and 80 miles from the bridge where his SUV was found on June 9 with the words, “suicide is painless,” scrawled on the hood. The U.S. Attorney’s office in Manhattan confirmed that Israel is in federal custody.

Israel disappeared on the day he was scheduled to report to prison outside Boston to begin serving a 20-year sentence for defrauding investors of $450 million. His vehicle was found idling on the Bear Mountain Bridge 40 miles north of New York City at about noon on June 9, leading to a massive manhunt.

Despite the staged suicide, authorities quickly concluded that Israel was not in the Hudson River but on the run. Two weeks ago, Israel’s girlfriend, Debra Ryan, admitted she helped him pack a recreational vehicle in the days before his disappearance and then lied to police about his movements on that morning. She has been charged with aiding Israel’s flight, and faces as much as 10 years in prison.

RELATED STORIES

FBI Releases New Israel Details
Israel’s Girlfriend Faces Decade In Prison
Bayou Group Fraudster’s Girlfriend Charged With Helping Him Flee
Feds Rule Out Suicide In Israel Disappearance
Investigators Probe Possible Israel Getaway Driver, Money Trail
Authorities Question Possible Israel Getaway Driver
Bayou’s Israel ‘Armed And Dangerous’
Arrest Warrant Issued For Missing Bayou Fraudster
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

Virtu Celebrates Another Year Without a Single Day of Losses

Feb 26 2015 | 9:05am ET

High-frequency trading firm Virtu Financial Inc. reported another year without a...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk: How To Get In Front Of The Problem

Feb 26 2015 | 9:53am ET

In considering the topic of risk in the hedge fund world, specifically, the oversight...

 

Editor's Note