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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...