From NY Post: He’s sorry all right. Sam Israel, the hedge-fund manager convicted
of running a $450 million Ponzi scheme who faked his own suicide to avoid the
slammer, apologized for dragging the industry through the mud.
“I am deeply ashamed to have disgraced you all by proxy,”
Israel told roughly 150 members of the New York Hedge Fund Roundtable in a
letter last week. “I am sorry to have tarnished the business I loved and lived
for my entire life…..”
Israel was sentenced to 20 years in 2008 after he pleaded
guilty to cheating investors, including pension funds, in his Bayou Hedge Fund
Group. He was sentenced to an additional two years after he faked his own
suicide in a bid to avoid reporting to prison…
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