Ex-Bayou Exec Pleads Guilty To Fleeing

Law360, New York (March 17, 2009, 12:00 AM EDT) -- Former hedge fund manager Samuel Israel III pled guilty Monday to failing to surrender to authorities after he disappeared last year on the day he was to start a 20-year sentence for allegedly leading a $450 million fraud scheme.

Israel, the former head of Bayou Management LLC, entered his plea before U.S. District Judge Kenneth Karas in White Plains, N.Y.

Israel faces up to 10 years in prison at his sentencing hearing, which is scheduled for June 24, prosecutors said.

On the day in April 2008...
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