US manhunt for missing fraudster - Business - Evening Standard
       

US manhunt for missing fraudster

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11 June 2008

America's most notorious fraudster of recent times is on the run - or dead.

Samuel Israel III, the former chief executive of collapsed hedge fund firm Bayou Management, was due to begin a 20-year prison sentence this week.

Instead, police have launched a manhunt after finding his car abandoned at the top of a mountain in New York with the words "suicide is painless" written in dust on the bonnet.

Investors, including some of Wall Street's richest players, lost more than £200 million when his fund failed. He pleaded guilty to numerous fraud charges.

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