Convicted Hedge Fund Swindler Faces Judge
POSTED: 6:42 am EDT July 3,
2008
UPDATED: 10:29 am EDT July 3,
2008
NEW YORK -- A hedge fund cheat who faked his own death to dodge a 20-year prison sentence has told a judge that he did actually try to commit suicide this week.Samuel Israel III, labeled "armed and dangerous" after he disappeared hours before he was supposed to begin his sentencing, ended a massive manhunt by riding a scooter to surrender to police in Massachusetts as he spoke with his mother on a cell phone.Israel requested during a court appearance in Springfield, Mass., on Wednesday to go directly to the federal medical prison in Massachusetts, where he was supposed to be serving his sentence.
Judge Michael Ponsor denied the request, forcing him to face an additional charge in New York of failing to surrender to a federal sentence. If convicted, Israel could face up to 10 more years in prison in addition to his 20-year sentence on conspiracy and fraud convictions.Prosecutors said he and two other men scammed nearly 400 investors out of $300 million. Authorities said Israel lived in a recreation vehicle after staging his own suicide by abandoning his SUV on the Bear Mountain Bridge near West Point. Classic Beauties: How They Aged Best & Worst Celebrity Beach Bodies Sexiest Women In World For 2008 What Happened To These Child Stars? Celebrities Who Died Young Recent Notable Deaths Celebrities: Then And Now Celebs Who've Suffered Illnesses 30 Dumbest People In Hollywood
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