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Israel to Proceed Directly to Jail

Fugitive banker loses $500K bail, could get 10 years tacked on 20-year sentence

By Harry Kimball,  Newser Staff

Posted Jul 3, 2008 1:50 PM CDT

(Newser) – A federal judge in New York ordered white-collar fugitive Samuel Israel to start serving his 20-year fraud sentence immediately, the Wall Street Journal reports, and ruled that his $500,000 bail be forfeited. "My hope is it will be applied to the resources taxpayers incurred to find Mr. Israel," the judge said. The former hedge-fund manager could face an extra 10 years for fleeing.

Israel in Massachusetts, where he turned himself in.
Israel in Massachusetts, where he turned himself in.   (AP Photo)
This wanted poster provided by the U.S. Department of Justice Marshals Service shows Samuel Israel III.
This wanted poster provided by the U.S. Department of Justice Marshals Service shows Samuel Israel III.   (AP Photo/ U.S. Department of Justice Marshals Service)
Fugitive investor Samuel Israel leaves US District Court in Springfield, Mass., after turning himself to authorities yesterday.
Fugitive investor Samuel Israel leaves US District Court in Springfield, Mass., after turning himself to authorities yesterday.   (AP Photo)
A more cleanly shaven Israel, in 2005.
A more cleanly shaven Israel, in 2005.   (AP Photo/Adam Rountree, File)
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