Hedge Fund Swindler Israel to Undergo Medical, Psychological Tests

Former hedge fund Bayou Management executive Samuel Israel III was ordered on Friday to undergo medical and psychological tests at the Devens Federal Medical Center prison in Massachusetts in the last week of December. U.S. District Judge Kenneth Karas ordered the tests to determine whether Israel is competent to have pled guilty to bail jumping.

The medical tests have been delayed a number of times as Israel continues to be weaned from a painkiller.

Israel faked his suicide on June 9 by writing “suicide is painless” on the dust of his sport utility vehicle, parked at Bear Mountain Bridge. He then hid at a nearby campgrounds for the next month, finally turning himself in on July 2 to begin serving a 20-year sentence for defrauding clients out of $400 million.

For reprint and licensing requests for this article, click here.
Compliance Hedge funds Money Management Executive
MORE FROM FINANCIAL PLANNING