LiveBlogging Breaking Scammy
8:09 pm EDT
LiveBlogging Breaking Scammy has now ended.
8:07 pm EDT
What a guy
...In a brief statement after the court hearing, he said the only reason he turned himself in was because police had arrested his girlfriend. “She had nothing to do with it,” he said as marshals whisked him a way in a maroon Dodge. “That's the reason I'm here.”...
Nothing to do with it, except driving him back and forth to the RV on and before Getaway Day, helping him load up, and then and lying to investigators for more than a week.
Hedge fund swindler says he turned himself in to help girlfriend
by David Abel
Boston Globe Jul. 2 2008
7:32 pm EDT
Scamuel Israel III will appear before Judge Colleen McMahon in Courtroom 21-B, 500 Pearl St, Manhattan on Thursday, July 3, at 10 am. As for questions on his whereabouts tonight, we can only say he is in federal custody.
Herbert Hadad, spokesman, US Attorney, Southern District of New York
5:23 pm
Ending with a fine whine
Judge Michael Ponsor this afternoon ordered Scammy shipped back to New York to face the music (Judge Colleen McMahon, conductor). But Scammy, as always, had an angle.
Wearing a blue T-shirt and athletic shorts, Israel, 48, asked...Ponsor to send him to Devens federal prison in Ayer, Massachusetts, where he was due to start the prison sentence.
“I have significant medical issues,” said Israel...“I do require daily medical attention.”
Israel, who appeared without a lawyer, told the judge that he would be safer in the low-security part of the Devens facility.
“I am not a danger to the community. I have not done anything violent,” Israel said. “If I was going to flee again, I would not have turned myself in.”
The judge rejected the former fugitive's plea, telling him, “You could be at Devens right now if you wanted to be.”
Compared with what McMahon has waiting for him, Ponsor is just an old softie.
Ex-hedge fund manager Israel ordered back to NY
by Scott Malone
Reuters Jul. 2 2008
4:20 pm
Scammy’s last latest margin call
Reuters is reporting that that Scammy’s Mom arranged for him to turn himself in. And why would she do that? Well...
One consequence of Scammy Israel III’s ill-fated rush from justice is that three “financially responsible persons” will likely split a large bill from the US Department of Justice. Israel was released on bail of $500,000—secured by both a personal recognizance bond and the three FRPs—in Sep. 2005, after being charged with his role in the Bayou hedge fund fraud.
Publicly available court records do not, regrettably, name the FRPs; neither do they indicate that Scammy’s bail conditions were changed, even after his sentencing in April. But it’s not beyond the bounds of possibility that Mommy got the invoice.
Mr. Israel's mother had told U.S. marshals that he would give himself up, according to Reuters.
She had been in touch with Mr. Israel for weeks and had urged him to turn himself in, officials told Reuters. [Emphasis added].
Interesting. Does that mean that Mrs Israel will find herself, like Scammy's girlfriend, charged with aiding and abetting his disappearance?
Mom brokered hedge fund fugitive's surrender
by Aaron Siegel
Investment News Jul. 2 2008
2:32 pm: The official word from the US Attorney:
...Mr GARCIA praised the United States Marshals Service for its extraordinary efforts leading to Israel’s surrender. Mr. GARCIA also praised the extraordinary work of the Federal Bureau of Investigation, which investigated the underlying fraud and worked with the US Marshals in investigating ISRAEL's disappearance. Mr. GARCIA also thanked the New York State Police and the Southwick, Massachusetts, Police Department.
1:14 pm EDT
Irresponsible Media Speculation
A person...ahem...familiar with the situation...this morning informed NakedShorts that Judge Colleen McMahon, who has overseen Bayou criminal matters since Scammy and co-conspirator Daniel Marino entered their guilty pleas in Sep. 2005, is furious—not the word he used, but this is a family blog—with Israel and his now aborted dash to freedom. A couple of things to ponder:
- The going rate for intentional abscondation appears to be in the general neighborhood of five years, tacked onto the end of the original—20 years here—sentence. But that may not be the worst of it.
- When sentencing Scammy, McMahon went out of her way to insist that he was to be accommodated at a facility where his various alleged medical issues—dicky back, dodgy ticker, fondness for recreational pharmaceuticals—could be treated. The US Bureau of Prisons, which has a fair degree of latitude in these matters, followed McMahon’s direction and ordered him to Federal Medical Center Devens.
McMahon is unlikely to so sympathetic this time around, and that, combined with factors including the length of his sentence and his now proven propensity for impromptu disappearing acts, means that he is much more likely to find himself in a high security facility. Which is where, in the words of Arlo Guthrie’s ‘Alice’s Restaurant,’ they put the mean nasty ugly looking people from the Group W bench.
Mother rapers. Father stabbers. Father rapers! Father rapers sitting right there on the bench next to me! And they was mean and nasty and ugly and horrible crime-type guys sitting on the bench next to me...
12:40 pm EDT: Mary Thomson, on CNBC, reports that Scammy is being moved to the federal courthouse in Springfield, Mass., where he will be arraigned at 3 pm.
12:07 pm EDT:
Israel, 48, turned himself in at 9:15 a.m. today, according to Sue Anderson, assistant to Southwick, Massachusetts, Police Chief Mark Krynicki. Southwick, near the Connecticut border, is about 117 miles from where Israel disappeared in New York the day he was to report to a federal prison northwest of Boston...
...Yusill Scribner, another spokeswoman for [US Attorney for the Southern District of New York, Michael] Garcia, didn't immediately have details on whether Israel will be brought to New York or sent directly to prison.
Bayou Co-Founder Israel Surrenders in Massachusetts
By David Glovin and Carlyn Kolker
Bloomberg Jul. 2 2008
11:34 am EDT:
...He was talking to his mother on the phone when he walked into a local jail and surrendered to the United States Marshals task force, a spokeswoman for the marshals said...
Fugitive Hedge Fund Manager Surrenders
by Abha Bhattarai
The New York Times Jul. 3 2008
10:58 am EDT: Helpful map showing directions from Southwick, Mass., to Devens, Mass., where Scammy failed to show up Jun. 9. (His actual route will probably include a detour to New York for a brief, but unpleasant, discussion with Judge Colleen McMahon.)
10:53 am EDT: He is in custody. That's all we're saying at the moment
Spokesman ― US Attorney
10:45 am EDT: SOUTHWICK, Mass. (CBS) ― Samuel Israel III, the hedge fund swindler who apparently tried to fake his suicide, has turned himself into police in Southwick, Mass., CBS 2 has confirmed.
Details of his arrest are not yet known...
Missing Hedge Fund Swindler Surrenders
WCBS New York
10:20 am EDT: Scamuel Israel III has turned himself into police in Southwick, Mass., according to CNBC..
he just wanted to see a Sox game before turning himself in.
Posted by: adam | July 02, 2008 at 17:49