Remember Samuel Israel III? For those with short memories, SI3 is a former hedge fund manager who faked his own death in June 2008 with the help of his girlfriend, Debra Ryan, who later wrote an article explaining her actions by noting that she and Israel had “a blazing sex life” that was hard to walk away from (Ryan shared colorful anecdotes that included all the times Israel would “[jokingly] sneak up on her, once while wearing sunglasses on his penis”). For Israel’s part, he had pretended to kill himself, incorporating a line from M*A*S*H into his fake suicide note, in an attempt to avoid the prison stay that was coming his way, on account of having taken Bayou Group investors for more than $450 million. At the time, he became something of a minor celebrity, whose business card, prominently featuring an egret, was auctioned off on eBay but since ultimately being sentenced to twenty years behind bars we’d heard nary a peep from the guy. Luckily, Andrew Ross Sorkin recently flew down to Butner, North Carolina for a little chat and it’s a good thing he did because Israel had a lot he wanted to get off his chest.
After offering ARS an “orange Life Saver,” discussing his own version of a playoffs beard (“Mr. Israel…was wearing a tan prison uniform with his hair grown out, a mass of silver and brown curls sprouting from the sides of his bald head. ‘I’m never going to cut it until I get out,’ he exclaimed”), and talking Ponzi schemes, SI3 got down to the real matter at hand. Read more »