Fugitive Hedge Fund Manager Israel Arrested

Discussion in 'Wall St. News' started by crgarcia, Jul 2, 2008.

  1. A fugitive hedge fund manager charged with frauding investors surrendered to police in Southwick, Mass., Wednesday morning, ending a weeks-long manhunt for the man who faked his own death to avoid a 20-year prison sentence.

    Samuel Israel, 48 years old, surrendered to police at 9:30 am Wednesday morning.

    Police in Southwick, which is about two hours from Boston, declined to comment further on the case, and referred all calls to the U.S. marshall's office.

    Israel disappeared on June 9, the day he was scheduled to begin serving his prison term for fraud.

    It was initially thought that Israel plunged to his death after his car was found on the Bear Mountain Bridge in New York with the words "suicide is painless" written in the hood. When no body was found beneath the 150-foot-high bridge, authorities believed Israel had staged another scam.

    Later, police arrested his girlfriend Debra Ryan and charged her with helping him to elude his prison sentence.

    Israel, 48, told a judge that the idea of spending 20 years in prison was so distasteful he had considered suicide. But he eventually decided: "I have to take responsibility for my actions no matter what the consequences."

    That sentiment didn't last long. Within two months, federal investigators said, Israel settled on life as a fugitive.

    Once arrested, Ryan admitted she had helped him pack a big white recreational vehicle with his belongings -- and a motor scooter. A picture of the RV was released, along with its license plate number. The U.S. marshals office said Israel might be spotted at "RV parks, campgrounds or highway rest areas."

    © 2008 CNBC.com

  2. How could the court not see that he was a flight risk? I mean, c'mon. 20 years is a long time in prison, and he was free until his sentence started?

    Clearly the guy's a crook and deserved what he got but I still was kinda rooting for him to get away. It's not like he was violent or anything.

    His biggest mistake was involving his girlfriend and it was his downfall.

    ***begin flaming me now***
  3. Wait, this can't be. He jumped off a bridge, leaving a suicide note.

    He felt badly for what he had done, and couldn't bare the pain and anguish and guilt, anymore.
  4. LOL you're kidding right?

  5. the real mystery is who actually jumped off the bridge??

    maybe he lived and swam to shore?? river is warm now.

  6. spidey


    How many peoples lives did this asshole ruin? There may be more than one suicide that this asshole caused. Some 70 year old who lost everything, they could easily be driven to suicide. If he had heisted a Brink's truck, well that is a different story
  7. My question is why do people think they can flee and hide in or around the United States. Do they actually think the infrastructure and technology in this country is that bad?

    If I were to flee, I would flee to some village in Siberia or Turkmenistan, where I would promptly buy myself citizenship under a different name altogether, and then use my money to move to a Greek island under a different name.

  8. ahhh, 70 year olds with limited means are NOT suppose to be investing in hedge funds.

    hedge funds are for the wealthy to HEDGE their other holdings, or for speculation with a small portion of their net worth

    not defending sammy here, just clarifying the misunderstanding of hedge funds and their purpose.

  9. With some planning he could have disappeared in the US. It's still relatively easy to create a fake ID if you know the right people. And *surely* he's got some money stashed *somewhere*.

    Anyway it's clear he didn't plan and acted impulsively.
    #10     Jul 2, 2008