Samuel Israel III
Encyclopedia
Samuel Israel III is a former hedge fund
manager for the fraudulent Bayou Hedge Fund Group
, which he founded in 1996. He was born in Louisiana
.
His 2006 GMC Envoy
was found abandoned on the Bear Mountain Bridge
on June 10, 2008 with the following written in dust on the hood, "Suicide is Painless
," the title of the theme song from the M*A*S*H TV series. Police suspected that this was an attempt by Israel to fake his own death
in order to avoid prison
. Israel's girlfriend, Debra Ryan, was arrested for aiding and abetting his escape later in June 2008, and was released on bail. According to police, Ryan admitted that she and Israel parked an RV
loaded with Israel's belongings near Bear Mountain Bridge on the day before his disappearance. The pair have been featured on America's Most Wanted
.
Israel surrendered to federal authorities on July 2, 2008. NBC
aired a Dateline
segment about him on September 5, 2008.
Sentenced in April 2008 to 20 years in federal prison, Israel had failed to report to Devens prison June 9, 2008. As a consequence, he was further sentenced on July 15, 2009, to an additional two years in prison for faking his own suicide, bringing his total sentence to 22 years.
He is the subject of an episode of American Greed
(#25) on CNBC, which was first broadcast February 3, 2010.
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
manager for the fraudulent Bayou Hedge Fund Group
Bayou Hedge Fund Group
The Bayou Hedge Fund Group was a group of companies and hedge funds founded by Samuel Israel III in 1996. Approximately $450m was raised by the group from investors. Its investors were defrauded from the start with funds being misappropriated for personal use...
, which he founded in 1996. He was born in Louisiana
Louisiana
Louisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...
.
His 2006 GMC Envoy
GMC Envoy
The GMC Envoy is an SUV from the GMC marque of General Motors. It was introduced as a high-end version of the Jimmy for the 1998 model year, the same year the Jimmy was restyled...
was found abandoned on the Bear Mountain Bridge
Bear Mountain Bridge
The Bear Mountain Bridge is a toll suspension bridge in New York State, carrying U.S. Highways 202 and 6 across the Hudson River between Rockland and Westchester counties...
on June 10, 2008 with the following written in dust on the hood, "Suicide is Painless
Suicide Is Painless
"Suicide Is Painless" is a song written by Johnny Mandel and Mike Altman , which is best known for being featured as the theme song for both the movie and TV series M*A*S*H. The actual title is "Song from M*A*S*H" ". Mike Altman is the son of the original film's director, Robert Altman, and was 14...
," the title of the theme song from the M*A*S*H TV series. Police suspected that this was an attempt by Israel to fake his own death
Faked death
A faked death occurs when an individual leaves evidence to suggest that he or she is dead in order to mislead others. This may be done for a variety of reasons, such as to fraudulently collect insurance money or avoid capture by law enforcement for some other crime.People who fake their own deaths...
in order to avoid prison
Prison
A prison is a place in which people are physically confined and, usually, deprived of a range of personal freedoms. Imprisonment or incarceration is a legal penalty that may be imposed by the state for the commission of a crime...
. Israel's girlfriend, Debra Ryan, was arrested for aiding and abetting his escape later in June 2008, and was released on bail. According to police, Ryan admitted that she and Israel parked an RV
Recreational vehicle
Recreational vehicle or RV is, in North America, the usual term for a Motor vehicle or trailer equipped with living space and amenities found in a home.-Features:...
loaded with Israel's belongings near Bear Mountain Bridge on the day before his disappearance. The pair have been featured on America's Most Wanted
America's Most Wanted
America's Most Wanted is an American television program produced by 20th Television, and was the longest-running program of any kind in the history of the Fox Television Network until it was announced on May 16, 2011 that the series was canceled after twenty-three years, with the final episode...
.
Israel surrendered to federal authorities on July 2, 2008. NBC
NBC
The National Broadcasting Company is an American commercial broadcasting television network and former radio network headquartered in the GE Building in New York City's Rockefeller Center with additional major offices near Los Angeles and in Chicago...
aired a Dateline
Dateline NBC
Dateline NBC, or Dateline, is a U.S. weekly television newsmagazine broadcast by NBC. It previously was NBC's flagship news magazine, but now focuses on true crime stories. It airs Friday at 9 p.m. EST and after football season on Sunday at 7 p.m. EST.-History:Dateline is historically notable for...
segment about him on September 5, 2008.
Sentenced in April 2008 to 20 years in federal prison, Israel had failed to report to Devens prison June 9, 2008. As a consequence, he was further sentenced on July 15, 2009, to an additional two years in prison for faking his own suicide, bringing his total sentence to 22 years.
He is the subject of an episode of American Greed
American Greed
-Season 2:Episode #7 The Martin Frankel CaseFinancier Martin Frankel, a con-man who vanished with $200 million dollars. A story of money laundering, prostitution, bizarre sex and drug abuse.Episode #8 When Greed and Giving Collide...
(#25) on CNBC, which was first broadcast February 3, 2010.
External links
- The Search for a Missing Trader Goes Global, The New York TimesThe New York TimesThe New York Times is an American daily newspaper founded and continuously published in New York City since 1851. The New York Times has won 106 Pulitzer Prizes, the most of any news organization...
, 14 June 2008 - Israel's FBI wanted poster
- Israel's U.S. Marshals wanted poster
- Fugitive hedge-fund swindler in federal custody, Reuters, 2 July 2008
- Hedge-Fund Fugitive in Custody, TimeTime (magazine)Time is an American news magazine. A European edition is published from London. Time Europe covers the Middle East, Africa and, since 2003, Latin America. An Asian edition is based in Hong Kong...
, 2 July 2008 - Fund Manager Who Faked His Suicide Surrenders, The New York Times, 3 July 2008