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US manhunt for missing fraudster
11.06.08
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.
