The Bayou Hedge Fund Group (1996-2006) was a group of companies and hedge funds founded and headed by Samuel Israel III. Approximately $450m was raised by the group from investors, who were defrauded from nearly the start with funds being misappropriated for personal use. == History == After poor returns in 1998, the investors were lied to about the fund's returns, and a fake accounting firm was set up to provide misleading audited results.
The Bayou Hedge Fund Group (1996-2006) was a group of companies and hedge funds founded and headed by Samuel Israel III. Approximately $450m was raised by the group from investors, who were defrauded from nearly the start with funds being misappropriated for personal use. == History == After poor returns in 1998, the investors were lied to about the fund's returns, and a fake accounting firm was set up to provide misleading audited results.
Source: Wikipedia "Bayou Hedge Fund Group" · CC BY-SA 4.0
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