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He Stole $450 Million
Samuel Israel III arrived at the United States Courthouse in the
Manhattan, N.Y. Monday, April 14, 2008. The Bayou Group founder
arrived for sentencing after pleading guilty to swindling $450 million
from his hedge fund.
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Judge Gives Defendant 20 Years
US District Judge Colleen McMahon sentenced Samuel Israel III to 20
years in prison and ordered him to forfeit $300 million in offshore
accounts.
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Phony Auditing Firm
He used a ponzi scheme and a phony auditing firm to fool investors
in the $450 million hedge fund.
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Lawyers Plea For Mercy
Lawyers for Israel had sought leniency, noting he's had numerous
back operations and is addicted to painkillers.
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There Was A Suicide Note
New York State police now are investigating whether he
committed suicide after a car registered to him was found abandoned at
the Bear Mountain Bridge along with a rambling suicide note.
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His Car Found Near Bridge
A car registered to Israel was found earlier today at the Hudson
River crossing near West Point and two sources said that a suicide
note was also found. The New York State Police confirmed that no body
has yet been found.
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Police Fear Suicide
Did the combination of drugs, the pressure of a 20-year sentence,
and his fear of disgracing Judaism drive him to jump?
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Rabbi Prays
The worst part is that no body found, says Jewish religious
experts.
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The Convict Is Recaptured
Israel wasn't dead, he faked everything. He surrendered to
federal authorities on July 2, 2008.
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A Friendly Judge
Samuel Israel was recently transferred to a federal medical
prison in Massachusetts for physical and psychological tests
ordered by
Judge Karas. The judge is unsure
that Israel, who has been addicted to painkillers, is competent to
plead guilty to the charge of failing to report to prison.
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Sent To A Medical Facility
Most escaped felons go to a Super-Max prison, but being a Zionist,
Samuel goes to a 'Medical Facility'. Instead of bars he has tennis,
and an array of recuperation therapy.
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Samuel's New Home
Samuel is in a brand new country club, Devens medical facility,
with three tennis courts.
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What About The Retirees?
Everyone fails to realize that Americans who worked for 40 years
are now penniless.
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