In just a year’s time the Manhattan U.S. attorney’s office collected $570 million in property, cars, jewelry and champagne from jailed criminals—more than eleven times its annual budget. By federal law, prosecutors are allowed to seize stolen items as well as those purchased with dirty money, reports the Daily News. Once the goods are auctioned off (like in one memorable bling sale), they can use the cash to pay back victims or fund new investigations. "For the victims, we are often all they have, so we are careful not just to get the bad guy, but to get their recompense," said Manhattan U.S. Attorney Preet Bharara. more ›

Samuel Israel, the hedge fund founder who went on the lam the day he was supposed to start a 20-year prison sentence, told a judge he did try to kill himself two days ago. WCBS 2 reports that during this morning's hearing in a Manhattan federal court, Israel claimed "he swallowed 175 morphine pills and the rest of his painkillers for his bad back." However, when he woke up, he "realized God didn't want me to do that so I turned myself in." more ›

Samuel Israel, the hedge fund founder who went missing just as he was supposed to report to prison for 20 years, is reportedly in police custody after surrendering early this morning. The NY Times reports Israel had been in Southwick, Massachusetts where he "was talking to his mother on the phone when he walked into a local jail and surrendered to the United States Marshals task force." more ›

David Brooks, who is the subject of a pump and dump stock scheme investigation that allegedly netted him hundreds of millions of dollars, had the restrictions on his $400 million bail loosened this week by a judge who feels he's only a minor flight risk. Brooks was the CEO of DHB Industries, a maker of bullet proof body armor worn by the U.S. military and the NYPD. more ›

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. more ›

After released a "Wanted" poster and questioning someone who may have been involved with an escape, law enforcement officials doubt that hedge fund founder Samuel Israel killed himself. Israel, who was convicted and sentenced to 20 years in prison for swindling $450 million out of investors, was supposed to arrive at federal prison on Monday, but instead his empty SUV was found the Bear Mountain Bridge. The words "Suicide is Painless" were written on the dusty hood, suggesting suicide. more ›

A bench warrant was issued for the arrest of Samuel Israel III, the hedge fund founder who was convicted of scamming investors of $450 million. Israel was supposed to report for a 20-year prison sentence in Massachusetts on Monday, but instead, his empty car was found on the Bear Mountain Bridge with "Suicide is painless" written on the hood. more ›

Two months ago, Sam Israel III was sentenced to 20 years at a Massachusetts prison for swindling $450 million from investors in his hedge fund, the Bayou Hedge Fund Group. He was supposed to report to prison yesterday, but he never showed up. Instead his 2006 GMC Envoy was found on the Bear Mountain Bridge, keys still in the ignition and the words "Suicide is painless" (the theme song to M*A*S*H) written on the dusty hood. more ›