Hedge fund manager who faked suicide unable to persuade judge

Gavel

He claimed he nearly died last year because prison officials had waited until after he had fallen, hit his head and lost consciousness to replace a battery for his pacemaker.

Former hedge fund manager Samuel Israel, who faked his own suicide to avoid prison after running a $450m fraud, last week failed to persuade a judge to shorten his 22-year sentence or set him free because prison officials are unable to treat his worsening health.

Reuters reports that U.S. District Judge Colleen McMahon in Manhattan said the Bayou Group founder's claim of inadequate care by the Federal Bureau of Prisons, which led to an alleged 'near death experience', was not a legal basis to reduce his sentence, and that even if it were, he waited too long to sue.

McMahon in 2008 had sentenced Israel to 20 years for fraud; another judge later added two years for bail jumping.

In seeking a shorter sentence, Israel claimed he nearly died last year because prison officials had waited until after he had fallen, hit his head and lost consciousness to replace a battery for his pacemaker.

Hit the link below to access the complete Reuters article:

Hedge fund founder Israel loses health bid to leave prison

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