HedgeFund.Net – Samuel Israel III, the Bayou Group founder who led the FBI on a merry chase after failing to show up to serve his prison term, has recovered sufficiently to plead guilty to escape, a federal judge said last week.

But Israel still hasn’t pleaded guilty as the proceeding was delayed until March 16, to give the convicted ex-hedge fund manager more time to talk to his lawyers, according to news reports.

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Newsday – A federal judge has ordered a detailed physical and mental health evaluation for hedge-fund swindler Samuel Israel III before deciding whether he’s competent to plead guilty for skipping out on prison.

Judge Kenneth Karas accepted a joint recommendation from defense lawyer Barry Bohrer and prosecutor Sarah Krissoff to send Israel, 49, to a medical prison in Butner, N.C. He said the exam could take 90 days.

Israel, who appeared in court with a bandaged hand, is "on board" with the recommendation, Bohrer said.

He said Israel needs "a full medical and psychological evaluation." The judge said he hoped it would "get to the bottom of whatever it is that is ailing him."

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