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| Description PlusJudge Won't Let NY Stock-swindler Plead GuiltyJudge Won't Let NY Stock-swindler Plead GuiltyThe Associated PressA federal judge has ruled that the New York hedge-fund swindler who faked his suicide rather than report to prison is not competent enough to plead guilty for fleeing. The AP's Ted Shaffrey has the story. (August 6)(White Plains, NY) Convicted Wall Street swindler Samuel Israel wanted to plead guilty Wednesday to faking his own death to avoid reporting to prison. But a judge wouldn't let him! ((Barry Bohrer, Defense Attorney)) "Mister Israel indicated he was ready to proceed, we were ready to proceed, but when Mister Israel indicated that his ability to proceed was around the 70 percent level, we decided out of an abundance of caution to put the matter off to another day, and that's what we did." In routine questioning, the judge asked Israel if he was competent to plead guilty. But Israel said he was only 70 percent competent, because he was trying to beat an addiction to a prescription pain killer patch, called Fentanyl ((Fenton All)), that he started taking after back surgery. He's now "detoxing" himself by taking increasingly smaller doses of methadone. So the judge gave him until September 16th to get clean, so he can plead guilty and not claim later on that his plea was compromised. ((Ted Shaffrey, The Associated Press))((White Plains, NY)) "Israel has already been sentenced to 20 years behind bars for bilking investors out of 450 million dollars. He now faces the possibility of several more years added to his prison sentence for trying to fake his own suicide to avoid serving his time." Israel pled guilty in 2005 to running a "ponzi" scheme through his hedge fund, called Bayou Group. Just as he was due to report to the penitentiary in June, he tried to fake his death by leaving his S-U-V and a suicide note on a New York bridge, but police quickly concluded it was fake. At the advice of his mother, he turned himself in to police last month. Ted Shaffrey, The Associated Press, White Plains, New York |
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