The former funder manager of Bayou Group, Samuel Israel III, surrendered to law enforcement officials and went to prison this week after faking a suicide last month, The New York Times reports.
Israel now faces additional charges of bail-jumping and up to 10 years in prison on top of the 20-year sentence he received in April for swindling $450 million from investors in the Bayou Group, the hedge fund that he helped found.
The full story is available on The New York Times website at http://www.nytimes.com/2008/07/04/business/04bayou.html.