Update: Hedge fund Manager turns himself in

On June 11, we reported that Samuel Isreal III failed to report to jail for fraud convictions, and his car was found abandoned on a bridge over the Hudson River.

The New York Times reported that Israel turned himself in to the local jail in Southwick, Massachusetts, according to authorities on Wednesday, July 2. He will be transported back to Ayers, Massachusetts, where he will likely serve out his sentence of twenty years in prison.

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Fraudulent man fails to report to jail

The New York Times discloses that Samuel Israel III failed to show up on Monday, June 9, for his sentence of 20 years in prison. Israel, a former hedge fund manager and co founder of the Bayou Group, received the sentence after cheating his investors out of $450 million. He plead guilty to these accusations in 2005.

On Monday, his sport utility vehicle was found on a bridge over the Hudson River, with the message “Suicide is Painless” etched into the hood. His whereabouts are unknown, and a body has not yet been found.

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