No Bail for Hedge Fund Schemer Israel

New York (HedgeCo.Net) – Chances are, when you stage a suicide to avoid a 20-year prison sentence and spark an international manhunt, you’re probably not going to have the luxury of being granted bail. 

That’s exactly what happened when Judge Colleen McMahon denied Samuel Israel III in a federal court in Manhattan last week.

Not only will Israel have to serve his original term, he will probably have to serve additional time for failing to report to prison on June 9th.

The former head of the Bayou Group was originally sentenced in April, but McMahon allowed Israel to roam free for a few weeks so the prison could line up the multiple medications he needed.  Israel, who is 48, had a pacemaker and was taking various painkillers for back pain. 

Still riding high on the suicide front, Israel told the court room that he attempted suicide by overdosing on the painkillers saying, "I thought it was better to do myself in than to turn myself in."

Although he didn’t enter a plea as of yet, he finally turned himself over to authorities due to medical problems, his mother’s persistence and to top that all off, some sort of divine intervention.

Israel had been hiding out in a mobile home with his girlfriend in Massachusetts.  A grand jury is expected to deliver his fate within the next month.  

Julie Scuderi
Senior Editor for HedgeCo.Net

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