WHITE PLAINS – Samuel Israel III, the man who faces a 20 year federal prison sentence for fraudulently inducing investments in the Bayou hedge funds of over $450 million, was sentenced Wednesday to another two years in prison for failing to surrender for the original prison term.

Israel pled guilty on September 29, 2005 to charges of mail fraud, investment advisor fraud and conspiracy. On April 14, 2008, he was sentenced to 20 years and ordered to surrender on June 9, 2008.

Instead, he abandoned his car at the Bear Mountain Bridge near Peekskill, in an apparent attempt to stage his own suicide. He then had his girlfriend drive him to a rest area near the intersection of I-684 and I-84 where he had an RV waiting. He fled and remained a fugitive until July 2, 2008.