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New York Daily News – Is Park Ave. lawyer Marc Dreier a Blood? Or maybe a Crip?
Federal prison officials are refusing to remove the accused hedge fund swindler from 24-hour lockdown until they determine whether he’s a gang member, attorney Gerald Shargel told a judge Thursday.
"How ludicrous is that?" Shargel told Magistrate Judge Douglas Eaton during a failed attempt to get the Yale grad and Harvard Law School alum released on $10 million bail.
Eaton agreed to look into Dreier’s conditions after Shargel said prison officials told him it will be another three weeks before they can remove Dreier from lockdown at theManhattan Correctional Center.
New 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
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds! Be sure to check out our sister sites. For more information, visit www.hedgeconetworks.com
Philadelphia Daily News- A hedge-fund swindler who was supposed to be driving himself to prison abandoned his car on a bridge with the phrase "Suicide is Painless" scrawled on its hood, but no body has been found in the river below – and the victims of his fraud say they doubt he killed himself.
The FBI, too, is skeptical, saying it is "actively looking" for the missing man, Samuel Israel III.
Israel, 48, a co-founder and chief executive of the now-collapsed Bayou hedge funds, was sentenced in April to 20 years in federal prison for conspiracy and fraud, to begin Monday afternoon. He was also ordered to pay $300 million to his victims.
Ross Intelisano, who represents 20 investors who lost $25 million, said yesterday his clients are skeptical about any Israel suicide.
New 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
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds! Be sure to check out our sister sites. For more information, visit www.hedgeconetworks.com
