Judge Expected to Accept Swindler's Guilty Plea - NBC New York

Judge Expected to Accept Swindler's Guilty Plea

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    Judge Expected to Accept Swindler's Guilty Plea
    AP
    Samuel Israel III is expected to plead guilty of faking his death to avoid serving a 20-year prison sentence.

    Hedge-fund swindler Samuel Israel III may finally be allowed to plead guilty to skipping out on prison.

    The 49-year-old Israel is expected to admit Monday in federal court in White Plains that he went on the lam in June rather than serve his 20-year stretch for bilking millions from investors.

    Israel, a co-founder of the Stamford, Conn.-based Bayou hedge funds, has never denied that he faked his suicide and took off in an RV for nearly a month before surrendering in Southwick, Mass.

    But Judge Kenneth Karas refused to accept a guilty plea when Israel, of Armonk, told him that treatment for a drug addiction was affecting his thinking. Instead, the judge ordered a medical evaluation, which found Israel competent to stand trial _ or plead guilty.