Man accused of $450m fraud 'may have faked death'

A missing hedge fund manager wanted for a US$450m (€292m) fraud probably faked his suicide, police said today.

Federal marshals in New York have issued a “Wanted” poster that says Samuel Israel III should be considered “armed and dangerous”.

His car was found on Monday on a bridge over the Hudson River, with “Suicide is Painless” etched into the dust on the bonnet. However, no body has been found, and investigators believe Israel may be on the run.

He was supposed to start a 20-year prison sentence on Monday for defrauding investors out of the $450m in hedge funds.

The poster does not explain why Israel is considered dangerous.