2nd Circ. Rebuffs Ex-Bayou CEO Israel's Appeal

Law360, New York (June 19, 2009, 12:00 AM EDT) -- The U.S. Court of Appeals for the Second Circuit has rejected a bid to overturn the 20-year prison sentence imposed on ex-Bayou Management CEO Samuel Israel III in the wake of his failed getaway attempt to avoid prison for his alleged role in a $450 million fraud scheme.

On Friday, the Second Circuit found Israel's arguments to be “meritless,” dismissing the ex-hedge fund manager's claims that the district judge was biased against him and that the prison term handed down was unreasonable.

“There is no reason...
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