Bayou's Israel may be ‘armed and dangerous’

Ex-hedge fund manager Samuel Israel III disappeared Monday, hours before he was to begin serving a 20-year sentence.
JUN 13, 2008
By  Bloomberg
Federal and state authorities are continuing their manhunt for an "armed and dangerous" Samuel Israel III, a former hedge fund manager who disappeared Monday before he was to begin serving a 20-year sentence for a scheme to cheat investors out of $450 million. Mr. Israel's car, a GMC Envoy, was found abandoned on the Bear Mountain Bridge in Orange County, N.Y., shortly before he was supposed to report to a federal prison in Ayer, Mass. The car’s keys were left in the ignition, prescription medication was found in the glove compartment and the phrase "suicide is painless" was written in the dust on the hood. Authorities, quickly convinced that there was no suicide, issued a bench warrant for Mr. Israel's arrest later that day, according to The New York Times. A wanted poster released by the U.S. Marshals Service called Mr. Israel "armed and dangerous." Mr. Israel, a founder of the Bayou Management LLC, pleaded guilty in September 2005 to charges of conspiracy and fraud in connection with thefts from investors in the Stamford, Conn., hedge fund. He was sentenced in April to 20 years in prison and ordered to pay his victims $300 million.

Latest News

Great wealth transfer is not just about money, says Edward Jones' Lewandowski
Great wealth transfer is not just about money, says Edward Jones' Lewandowski

With trillions of dollars in transit, HNW expert sees a bigger picture.

Summit Financial, MassMutual boost advisor appeal with growth-focused tech
Summit Financial, MassMutual boost advisor appeal with growth-focused tech

Summit Financial unveiled a suite of eight new tools, including AI lead gen and digital marketing software, while MassMutual forges a new partnership with Orion.

SEC enforcement actions drop sharply, with focus shifting to investor fraud
SEC enforcement actions drop sharply, with focus shifting to investor fraud

A new analysis shows the number of actions plummeting over a six-month period, potentially due to changing priorities and staffing reductions at the agency.

MAI inks mega-deal with Evoke Advisors to form $60B AUM firm
MAI inks mega-deal with Evoke Advisors to form $60B AUM firm

The strategic merger of equals with the $27 billion RIA firm in Los Angeles marks what could be the largest unification of the summer 2025 M&A season.

Employees tapping retirement funds amid financial strain, led by Gen Zs
Employees tapping retirement funds amid financial strain, led by Gen Zs

Report highlights lack of options for those faced with emergency expenses.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.