Israel, Not Dead, Surrenders To Authorities

Law360, New York (July 2, 2008, 12:00 AM EDT) -- Samuel Israel III surrendered to Southwick, Mass., authorities Wednesday morning, a few weeks after faking his suicide in an attempt to avoid serving a 20-year sentence for spearheading a $450 million fraud at the bankrupt Bayou Group LLC hedge fund.

As a result of his ultimately unsuccessful phony death scheme, Israel will immediately forfeit his $500,000 bond and likely face a separate federal criminal charge of failure to surrender for service of sentence, which carries a maximum five-year sentence, according to one former assistant U.S. attorney....
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