UPDATE: Israel Plea Delayed Again

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.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...