Israel In Court Today On Bail-Jumping Charges

Feb 27 2009 | 11:23am ET

With a (hopefully) fresh bill of health—both physically and mentally—in hand, convicted hedge fund fraudster Samuel Israel will be back in court today to face bail-jumping charges.

Israel, who has already been sentenced to 20 years in prison for his role in bilking investors out of $450 million in the Bayou Group hedge funds, is charged with failing to report to begin that term in June. Israel spent about three weeks on the lam over the summer, before surrendering to authorities.

A federal judge refused to allow him to enter a plea on the failure to report charges three, citing his battle with painkiller addiction, ordering him to undergo a medical and psychological exam at a federal prison facility—he was sent, ironically, to the very same prison in Massachusetts where we was originally to report in June. But he’ll be back in White Plains, N.Y., today, where U.S. District Judge Kenneth Karas will decide if he is competent to enter a plea and stand trial on the bail-jumping charge.

Israel faces an addition 10 years in prison if convicted. Last year, his attorneys indicated that he would plead guilty.

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