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The weird story of Bayou hedge fund just got even weirder. Samuel Israel III, the head of the fund that lost $400 million, was supposed to begin his 20-year prison sentence on Monday. Except there was one minor problem—he never showed up.

The police found his car on a bridge spanning the Hudson with a suicide note written on the car’s hood. Except there was one minor problem—no body has been found. According to the police, the bodies of people who jump off the bridge are found pretty quickly.

Mr. Israel's lawyers had sought a more lenient sentence, saying that he had numerous back operations and was addicted to painkillers. But that didn't sway federal Judge Colleen McMahon. At his sentencing, she said: "He suffered from these ailments while he did the crime. He can deal with them while he does the time."

Something this tells me this story isn’t over.

Posted by edelfenbein at June 11, 2008 7:47 AM