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Ms Ryan had previously denied knowing anything about the circumstances leading up to Israel's disappearance, and claimed she was in no way involved. She has now admitted that she had, in fact, helped him abscond. Although a car owned by the former hedge fund manager was found on the Bear Mountain Bridge, which spans the Hudson River, a couple of weeks back (complete with the words 'suicide is painless' scrawled on the windscreen), the cops never seriously considered that Israel had done himself in.
Staying with hedge funds, The Times reports that, according to Chicago-based Hedge Fund Research, 170 funds closed their doors in the first-quarter, many down to the credit crunch. Having said this, 247 funds jumped in to take their place.
Bloomberg reports that Barclays may get a $927m capital injection from Japan's Sumitomo Mitsui Financial Group, as it moves to beef up its balance sheet.
BBC News reports that a shareholder has sued Lehman Brothers and members of its executive team, claiming that their conduct has resulted in investors taking a substantial bath (Lehman's shares are off around 60% this year, following huge asset writedowns). CEO Dick Fuld and former CFO Erin Callan are also said to be named in the suit.
The Times reports that former UBS private banker Bradley Birkenfeld has now pleaded guilty to helping some of the bank's clients hide funds from US tax authorities.Birkenfeld's lawyer, Danny Onorato, said Thursday that his client 'is going to tell the Government everything he knows about what was going on at UBS'.
Finally, The Wall Street Journal reports that Wachovia has hired Goldman Sachs to advise on strategy and to help with its search for a new CEO.
