Bayou Hedge Fund Defendant Samuel Israel Surrenders To FBI

MICHAEL J. GARCIA, the United States Attorney for the
Southern District of New York, JOSEPH R. GUCCIONE, the United
States Marshal for the Southern District of New York, and MARK J.
MERSHON, the Assistant Director-in-Charge of the New York Field
Office of the Federal Bureau of Investigation, announced that
SAMUEL ISRAEL III surrendered to law enforcement authorities in
Southwick, Massachusetts, earlier this morning.

On June 9, 2008, ISRAEL failed to surrender to begin
serving a 20-year prison sentence for fraudulently inducing
investments in the Bayou hedge funds of over $450 million.

Today, at approximately 9:15 a.m., ISRAEL surrendered
to officers of the Southwick, Massachusetts, Police Department.
The United States Marshals Service will transfer ISRAEL to the
United States District Courthouse in Springfield, Massachusetts,
where he will appear before United States District Judge MICHAEL
A. PONSOR at 3 p.m.

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 United States Marshals in investigating
ISRAEL’s disappearance. Mr. GARCIA also thanked the New York
State Police and the Southwick, Massachusetts, Police Department.
08-166 ###

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