BUSINESS
06/26/2012 08:31 am ET Updated Aug 26, 2012

'I'm A Proven Liar. Don't Believe Anything I Say'

BUTNER, N.C. -- "I'm a proven liar. Don't believe anything I say."

That was what Samuel Israel III told me last week. He is the hedge fund manager convicted of running a $450 million Ponzi scheme who faked his own suicide in the summer of 2008 to avoid his prison sentence before turning himself in after a worldwide manhunt.

He was sitting across from me in the visiting center of the Butner prison complex, about 45 minutes north of Raleigh in eastern North Carolina. (Bernard L. Madoff is in the same complex.)

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