Convicted Bayou Fund Head May Have Faked Death

Law360, New York (June 11, 2008, 12:00 AM EDT) -- Investigators reportedly believe Samuel Israel III, who was sentenced to 20 years in April for leading a hedge fund fraud scheme, may have faked his own death in order to avoid prison. Bolstering that suspicion, a federal judge issued a bench warrant Wednesday for Israel's arrest.

In announcing the bench warrant, U.S. attorney's office spokesman Herb Hadad said federal agents "have not foreclosed any possibilities,” Newsday reported Wednesday.

Israel, 48, was supposed to report to federal prison in Ayer, Mass., on Monday to begin his sentence...
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