Bayou Group

5 Stories

Any Madoff Money Will Be a Long Time Coming

(Newser) - If past fraud cases are a guide, investors rooked by Bernard Madoff will have to wait quite a while to see even a fraction of their initial investments returned, Reuters reports. Court action is notoriously slow, but that’s only half the problem: Recovering money is possible only if it’... More »

Bridge 'Suicide' Ruled Fugitive

Hedge fund founder on the lam: marshals

(Newser) - A New York hedge fund manager who bilked investors out of $400 million has been declared a fugitive by federal authorities, reports Bloomberg. "Suicide has been ruled out,'' said a spokesman for the US Marshals Service. Samuel Israel disappeared the day he was scheduled to begin a 20-year... More »

With No Body, Cops Doubt NY Banker's Suicide

'He's dead as far as I can throw him,' skeptic says of fraudster

(Newser) - An international manhunt is now under way for a former hedge-fund manager who disappeared the day he was to begin serving a prison sentence for defrauding investors. A car belonging to Samuel Israel III was found Monday at a bridge over New York's Hudson River, the Wall Street Journal reports;... More »

Hedge Fund Fraud Missing; Suicide Possible

Car on NY bridge belonged to exec due yesterday in prison

(Newser) - Police aren't ruling out suicide as a New York hedge-fund manager due to begin serving a 20-year prison term yesterday remains missing, the Wall Street Journal reports. Police found Samuel Israel's car parked near a bridge over the Hudson, with “Suicide is painless” written in dust on the hood. More »

Hedge Fund Fraud Gets 20 Years

Samuel Israel denied leniency in $400M investor 'ponzi scheme'

(Newser) - The founder of defunct hedge fund Bayou Group was given a 20-year prison term today for bilking investors out of more than $400 million, Bloomberg reports. Samuel Israel must also pay $300 million in restitution for masterminding a “ponzi scheme” in which investment returns were paid with new investors’... More »

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