Mother Puts Foot Down As Hedge Fund Rogue Gives Himself Up

Samuel Israel III, the Bayou Group hedge fund founder defrauded his investors of $450m, got caught and received a 20-year jail sentence. He then legged it (faking his suicide in the process) on the day he was supposed to report to clink last month. Israel surrendered to US authorities Wednesday, however, and is now in custody. And it looks like it was all down to his mum, who advised him to give himself up when he recently made contact with her by telephone. A car belonging to Israel was found on 9th June on the Blue Mountain Bridge (which spans the Hudson River) with the word 'Suicide is Painless' scrawled on the windscreen. Investigators weren't fooled, however, and immediately launched a full-scale manhunt for the hedgie. Israel is said to have been living in at recreational vehicle in a Massachusetts campground under the... [read full story]