Jul 2, 2008 10:25 am US/Eastern
MIA Hedge Fund Swindler Turns Himself In
SOUTHWICK, Mass. (CBS) ―
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Missing hedge fund swindler Samuel Israel III went on the run in a white recreational vehicle carrying a motor scooter, according to federal agents. (File)
CBS
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Debra Ryan, of Armonk, admitted to investigators that she helped Samuel Israel pack up the RV and saw him park it on a highway rest area on June 9, the day he was supposed to report to federal prison for the start of a 20-year term.
CBS
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This is a picture of the RV federal agents believe missing hedge fund swindler Samuel Israel III went on the run in.
CBS
Samuel Israel III, the hedge fund swindler who apparently tried to fake his suicide, has turned himself into police in Southwick, Mass., CBS 2 has confirmed.
Israel was supposed to report to federal prison on June 9 after being convicted of swindling hedge-fund investors out of hundreds of millions. That same day, his SUV was found on Bear Mountain Bridge with the words 'suicide is painless' drawn on the hood in dust.
The case took a twist in late June when Israel's girlfriend, Debra Ryan, of Armonk, was accused of helping him disappear.
Ryan told investigators she had found a suicide note from Israel. Federal authorities then discovered Israel had recently purchased a $50,000 Coachman Freelander RV from a man in Medford, Long Island.
Authorities say Ryan admitted helping Israel load belongings into the RV, which they believe was his comfortable getaway vehicle after the fake suicide.
Ryan also owns a home in the Byram section of Greenwhich, which she uses as a base for her decorative painting business.
Neighbor Greg Goodwin sees her often. "She just seemed like a hard worker, took care of the house over there, seemed like a normal person," said Goodwin. "I'm very surprised at that.
Sources told CBS 2 HD U.S. Marshals are convinced Ryan knew more about her boyfriend's disappearance then she is letting on. They had re-interviewed his friends, family, and associates as they feverishly worked to locate the missing swindler.
Stay with CBS 2 HD and wcbstv.com for more on this developing story.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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