The saga of Samuel Israel continues, with the $450 million Bayou hedge fund swindler now being sent to federal medical prison forpsychiatric evaluation. U.S. White Plains District Court Judge Kenneth Karas has sent Israel to Butner North Carolina Federal Medical Center for a complete medical and psychological evaluation, which could take up to 90 days.
The judge wants to determine whether Israel, who claims his mental capacity is operating at only 70% due to an addiction to painkillers, is competent to plead guilty to jumping bail.
The next hearing will be held Feb. 27, 2009.
Israel faked his suicide at the Bear Mountain Bridge on June 8, a day before he was scheduled to begin serving a 20-year sentence. After hiding out in a campgrounds, Israel turned himself in to authorities at the urging of his mother. Because he failed to report to prison, the courts will not return the $500,000 bail to Israel and have added another 10 years to his sentencing.