Judge Rejects Ex-Bayou Exec’s Guilty Plea

Law360, New York (August 6, 2008, 12:00 AM EDT) -- Former hedge fund manager Samuel Israel III attempted to plead guilty on Wednesday to staging his own suicide to avoid serving time for defrauding investors, but a federal judge refused to accept the plea after learning that Israel was undergoing drug therapy for his addiction to a powerful painkiller.

Israel, the former head of bankrupt Bayou Group LLC, informed Judge Kenneth Karas in the U.S. District Court for the Southern District of New York that he was in the process of being weaned off fentanyl, which...
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