Bayou Group founders to turn themselves in
Samuel Israel III, founder of the Bayou Group, and Daniel E. Marino, the group's CFO, are expected to surrender to law enforcement authorities today. Both are expected to plead guilty to various accounts of fraud. Prosecutors believe that the two are behind one of the most spectacular hedge fund blow ups in recent memory. Neither man has been seen publicly since the case blew open last month. Authorities were under some pressure to make an arrest. Lots of questions remain unanswered.
> Here's a New York Times article.
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