BRIAN SNYDER/Reuters /Landov
Samuel Israel III
Year made public : 2005
Estimated Losses: $350 Million
Bayou Group, a Stamford (Conn.)-based hedge fund, drew $450 million from investors after its launch in 1996, according to federal prosecutors. Instead of investing the money, company founder Israel and his cohorts took it for personal use and created false reports that the fund was performing well. Last year, Israel was sentenced to 20 years in prison on conspiracy and fraud charges but fled in June before reporting to prison. His SUV was found on a bridge overlooking the Hudson River, bearing the words, "Suicide is Painless." Israel surrendered a month later.
