Debra Ryan, girlfriend of former hedge fund manager Sam Israel, plead guilty to "aiding and abetting Samuel Israel III's failure to surrender to serve his sentence on June 8, 2008", according to the US Attorney's office.
Israel was supposed to serve 20 years in prison, beginning in June of 2008, for his role in defrauding investors in the Bayou Management funds. Rather than turn himself in, Israel allegedly faked his own suicide, and then fled to avoid incarceration.
Background
$440 million The alleged money under management for Bayou.
$101 million Money frozen by State of Arizona believed to be remaining assets of Bayou Management LLC.
The action also states that in the spring of 2004 Bayou began a series of transactions which involved transferring large sums of money to numerous banks. The private placement programs promised above average rates of return, as much as 100% per week. These transactions are what initiated the Arizona investigation.
t Bayou, its principals and Richmond-Fairfield, citing much of the same evidence as the Federal court in charging Bayou. In addition the CFTC points out that Marino, CFO for Bayou, was listed as the registered agent of Richmond Fairfield from Oct. 10, 2000 to April 29, 2003 and is identified as the member/manager of Richmond-Fairfield in New York State records on those with professional licenses. It also notes that Israel was listed as the registrant of the Richmond-Fairfield Web site and the e-mail address provided to the Web sites domain registry was bayoufund@aol.com
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