Thursday, 31 July 2014
Last updated 8 hours ago
Sep 16 2008 | 1:12pm ET
Samuel Israel allegedly skipped town to avoid going to prison. Now that he’s there, authorities are in no rush to pad his time behind bars.
The convicted Bayou Group swindler was prevented for a second time from pleading guilty to charges that he failed to appear as scheduled to begin his 20-year term for defrauding investors. His lawyer, Barry Bohrer, told U.S. District Judge Kenneth Karas that Israel’s continuing treatment for painkiller addiction means he needs more time “to perceive and actively understand what’s going on.”
Karas agreed, again rescheduling Israel’s plea hearing, this time for Oct. 22.
Last month, Karas refused to allow Israel to enter a plea after the latter declared himself only “60% to 70%” competent to do so.
Israel was set to report to a federal prison camp west of Boston on June 9 to begin a 20-year sentence. But he allegedly faked his suicide and went on the rune, turning himself in more than three weeks later.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…