Much-Delayed Israel Bail-Jumping Plea Expected Today

Mar 16 2009 | 11:23am ET

After three attempts to plead guilty were brushed aside by a worried judge, the bizarre tale of convicted hedge fund fraudster Samuel Israel may finally reach something of a conclusion today, when he is expected to admit to bail jumping.

Israel will appear in federal court in White Plains, N.Y., today, when U.S. District Judge Kenneth Karas is expected to finally allow him to plead guilty to failure to report to prison charges. The latest courtroom drama for the Bayou Group founder stems from his three weeks on the lam this summer, beginning with a faked suicide on the day he was to begin serving his 20-year sentence for bilking investors of $450 million.

Karas barred his plea at earlier hearings because Israel was undergoing treatment for painkiller addiction, inviting questions about his competence to plea. The judge ordered a psychological examination, and last month found Israel competent to stand trial.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of