Wednesday, 1 October 2014
Last updated 2 min ago
Mar 17 2009 | 3:23am ET
More than nine months after he went on the lam, convicted hedge fund fraudster Samuel Israel has admitted that he jumped bail.
Israel pleaded guilty to failure to report to prison yesterday. His plea had been delayed three times as he underwent treatment for drug addiction and then a medical and psychological evaluation.
The Bayou Group founder, who was sentenced last April to 20 years in prison for his role in the scandal that cost investors $450 million, will be back in the White Plains, N.Y., federal courtroom on June 24 for sentencing. The 49-year-old faces as much as 10 years in prison on the bail jumping conviction; the sentences are to run consecutively, rather than concurrently.
Israel went missing on June 9, the day he was to report to prison to begin his sentence for the Bayou fraud. His sports utility vehicle was found idling on a bridge north of New York City that day with the words, “suicide is painless,” written in the dust on its hood.
Authorities never believed he had taken his life, and immediately commenced a manhunt. His girlfriend was arrested and admitted she helped him pack to go on the run, and Israel surrendered to authorities in Massachusetts three weeks later.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...