of samuel israel iii arrested

Fugitive Hedge Fund Manager Surrenders: Samuel Israel III, the hedge fund manager who cheated $450 million from investors and then faked his own suicide, surrenders to police.

Samuel Israel III, the hedge fund manager whose disappearance has sparked a manhunt for the convicted felon, has been arrested in southwestern Massachusetts, federal marshals said on Wednesday..

Mr. Israel was arrested in Southwick, Mass., near the Connecticut border. 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, a spokeswoman for the marshals told The New York Times.

He is currently in federal custody and will most likely be transported to the federal prison in Ayers, Mass., where he was to have reported the day he left his sport utility vehicle on the side of a bridge and disappeared, the marshals said.