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U.S. Fund Swindler Pleads Guilty to Jumping Bail

Reuters – Jailed Bayou hedge fund swindler Samuel Israel pleaded guilty on Monday to jumping bail in an episode in which he faked his own suicide last year in an attempt to avoid going to prison.

Israel’s plea had been delayed several times since August while he underwent medical care. He faces up to 10 years in prison on the bail jumping charge, said Judge Kenneth Karas in U.S. District Court in White Plains, New York.

Israel, 49, was sentenced last April to 20 years for engineering a scam that cheated investors out of about $450 million. The two sentences will run consecutively. Karas scheduled June 24 for the sentencing.

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