Hedge Fund Cheat Surrenders to Authorities
ABCNews -- A fugitive hedge fund trader who allegedly faked his own suicide to avoid prison time surrendered to authorities in Massachusetts this morning, law enforcement officials tell ABC News.
Sam Israel III pleaded guilty to fraud and conspiracy charges in September 2005, and a federal judge sentenced him to 20 years in prison for the crimes on April 14 of this year. At his sentencing hearing, Israel was released on his own recognizance, and the court ordered him to report to prison June 9.
Instead, he allegedly faked his suicide by staging a bridge jump to avoid starting his sentence.
Southwick, Mass., Police Chief Mark Krynicki, who said he recognized Israel from a recent feature on "America's Most Wanted," told ABC News that Israel...