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Saturday, June 14, 2008

Probe deepens in missing hedge fund manager (partner to John Ellis - Bush cousin)

Source: Reuters
BOSTON (Reuters) - U.S. authorities were trying to determine on Friday whether a fugitive financier who was thought to have faked his suicide will have enough money to sustain life on the run.
Four days after Samuel Israel III, manager of the Bayou Group hedge fund, failed to report to prison to serve a 20-year sentence for stealing $450 million from wealthy investors, speculation over his whereabouts was rampant.
Israel's family and friends could be expected to be questioned and have their telephones tapped, said Aitan Goelman, a former federal prosecutor in Manhattan.
"A lot of it is kind of what you would expect -- going to family and friends," said Goelman, now a white-collar criminal defense attorney at law firm Zuckerman Spaeder LLP.
"Who was the last person who he talked to and what did he tell her? Did he pack a lot of stuff?" he said. "You don't need a lot of luggage if you're reporting for a 20-year prison term."

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