June 20, 2008
Missing Hedge Funder's Girlfriend Helped Him Escape
Authorities arrested the girlfriend of the fugitive hedge fund scammer yesterday. Debra Ryan reportedly confessed that she helped Sam Israel, who was sentenced to 20 years in prison for swindling hundreds of millions from investors, plan his disappearance a week and a half ago.
On June 10, Israel was supposed to report to a federal correctional facility in Massachusetts, but his empty GMC Envoy was found on the Bear Mountain Bridge. The words "suicide is painless" were written on the dusty hood, but authorities quickly suspected Israel was on the lam.
Ryan, who lived with Israel in a rented Armonk home, apparently told investigators she helped him pack up an RV full of supplies and a motor scooter, which Israel parked on a highway. It is believed a different person picked Israel from the bridge and drove him to the RV. She had previously claimed she had no idea where Israel was when questioned and even gave authorities a suicide note written by Israel. She was released on $75,000 bond and and may face up to 10 years in prison if convicted.
It turns out the person who sold the RV to Israel tipped off the authorities. The seller, who was paid in cash and agreed to let Israel keep the old plates for a while, came forward when he saw pictures of Israel on the news. The RV is a white Coachman Freelander, with the plates EEN-5973. Per the Post, "Authorities said Israel could be hiding out at an RV park, campground or highway rest area...using the aliases Sam Ryan or David Clapp, and has a tattoo of a bird on his left arm...He should be considered armed and dangerous."
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One wonders whether the U.S. Marshals and the DOJ will rethink allowing convicted felons to just "report" to prison. This obviously could have been avoided had Israel been taken into custody immediately after his conviction and/or sentencing.
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white collar criminals aren't treated the same as the rest of us.
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as long they have maccain and bloomberg on their side.
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And why did they release the girlfriend on bond? I'd say she's a proven flight risk...
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Paul Giamatti totally needs to play this guy in the made for TV movie.
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Duh, #1, because the vast, vast majority do not flee, and need the time to get their affairs in order.
You want to change a system that works well and is just because of one fool's gambit?
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#6, why should a white collar criminal be given the time to get their 'affairs in order' when other criminals are not? The system does not 'work well', as you say. If it did, this guy would be in jail and this wouldn't be a story.
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You want the girlfriend out of jail so you can tail her and tap her phones to see if she contacts the guy they're looking for. She's so stupid she just might do it and give him away even more than she already has.
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Hedge fund manager to trailer park trash!
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they make one good-looking couple. how much do you think their leeked sex tape would sell for?
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Hey! I'm "David Clapp"! This bastard better stay as far away from my camper as possible. I'm liable to 'pump n' dump' him with a load of buckshot!
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I think I saw him selling counterfeit "coach bags"
at the souk on Broadway & 28th street.