20-Year Sentence for Hedge Fund Cofounder

Samuel Israel of the Bayou Group is ordered to turn over $300 million.

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Bayou Group cofounder Samuel Israel received a 20-year prison sentence and was forced to turn over $300 million for his role in a $400 million fraud case, Bloomberg reports.

From Bloomberg:

Israel's sentence is among the stiffest given to a white-collar offender in the seven years since Enron Corp. collapsed. Others included former WorldCom Inc. Chairman Bernard Ebbers, who received 25 years for fraud, and former Enron Chief Executive Officer Jeffrey Skilling, who got a 24-year sentence.

Full story here.

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