Collapsed hedge fund co-founder sentenced to 20 years on fraud charges

[JURIST] A federal judge on Monday sentenced Samuel Israel, III, co-founder of collapsed hedge fund Bayou Group [JURIST report], to 20 years in prison. US District Judge Colleen McMahon also ordered Israel to make $300 million in restitution and forfeit interests in a $100 million account. In 2005, both Israel and Chief Financial Officer Daniel Marino pleaded guilty [JURIST report] to charges
2008-04-14T19:31:00-04:00