Israel to Proceed Directly to Jail

Fugitive banker loses $500K bail, could get 10 years tacked on 20-year sentence
By Harry Kimball,  Newser Staff
Posted Jul 3, 2008 1:50 PM CDT
Israel to Proceed Directly to Jail
Israel in Massachusetts, where he turned himself in.   (AP Photo)

A federal judge in New York ordered white-collar fugitive Samuel Israel to start serving his 20-year fraud sentence immediately, the Wall Street Journal reports, and ruled that his $500,000 bail be forfeited. "My hope is it will be applied to the resources taxpayers incurred to find Mr. Israel," the judge said. The former hedge-fund manager could face an extra 10 years for fleeing. (Read more Samuel Israel stories.)

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