Hedge Fund Fraudster Manhunt Comes to an End
Thursday, July 3, 2008 : PermalinkNew York (HedgeCo.Net) - The international man hunt for Sam Israel came to an end yesterday when the hedge fund fraudster turned himself over to authorities.
Israel turned himself into the Southwick, Mass., police station around 9:30 a.m., said Suzanne Anderson, Police Chief Assistant. The police station is about 95 miles away from the Ayer, Massachusetts federal prison that Israel was supposed to report to on June 9th to start serving his 20-year sentence.
After Israel failed to report, his SUV was found abandoned on the banks of the Hudson River, with the words “Suicide is Painless” scrawled through the dust on the window. Officials were immediately reluctant to believe the man who bilked $400 million worth of cash from trusting investors through his hedge fund scheme.
The 48-year old swindler once ran the Bayou hedge funds and covered up losses through doctored performance reports and by setting up a fake auditing firm. He also reaped millions from trades conducted through his securities firm.
Israel’s girlfriend, Debra Ryan, admitted to aiding Israel’s escape. She drove her car alongside Israel’s SUV to the Hudson, where he then hopped in with her and returned to their home.
It is rumored that Israel turned himself in because of ailing health problems, sort of a bummer when you’re a fugitive and your face is plastered on WANTED signs all over the country.
Julie Scuderi
Senior Editor for HedgeCo.Net
Email: julie@hedgeco.net
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Tags: banks-of-the-hudson, chief-assistant, chief-executive, drug-kingpin, due-diligence-service, international-man, jail-term, jp-morgan, leech, man-hunt, mass-police, missing-man, nara, new-star, performance-reports, saylor, southwick-mass, suzanne-anderson, wanted-signs, west-palm-beach
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