It's Back to Prison for Hedge Fund Swindler

Israel is accused of faking his suicide and going on the lam

Friday, Dec 19, 2008  |  Updated 3:36 PM EDT
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It's Back to Prison for Hedge Fund Swindler

Associated Press

Convicted hedge fund swindler Samuel Israel.

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For the second time, hedge fund swindler Samuel Israel III is being sent to a Massachusetts federal prison.

This time, he's likely to show up.

Federal Judge Kenneth Karas said Friday that the physical and psychological evaluation he ordered for Israel in October will happen at the Devens Federal Medical Center at Ayer, Mass. The evaluation will begin next week.

Israel had been set to go to a similar facility in Butner, N.C. Prosecutors would not comment on the switch or the delay.

Israel was expected in June to start a 20-year sentence for bilking investors out of hundreds of millions of dollars. Instead, he faked his suicide and went on the lam until surrendering in July.

Israel did not appear in court Friday.

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