Bayou executive sentenced to 20 years

New York -- U.S. District Judge Colleen McMahon in Manhattan sentenced former Bayou Management Chief Financial Officer Daniel Marino to 20 years in prison Tuesday.

Marino and Bayou Management's ex-chief executive in charge of hedge funds, Samuel Israel III, pleaded guilty in September 2005 to conspiracy and investment adviser fraud. Prosecutors said the company officers attempted to defraud investors by inflating the value of the company's funds, Marketwatch.com reported.

Israel is awaiting sentencing, the report said.

Last week, the co-founder of several of the Stamford, Conn., company's hedge funds, James G. Marquez, was sentenced to 51 months after pleading guilty to conspiracy charges in December 2006.

The company closed its doors in July 2005, the report said.

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