Judge Acquits Segal on 7 Charges, 19 Others Upheld

December 20, 2004

U.S. District Judge Ruben Castillo acquitted former Near North Insurance Brokerage CEO Michael Segal on seven of the 26 federal counts he was convicted of earlier this year, but he upheld the others.

Segal and Chicago-based Near North were convicted in June of racketeering and fraud charges connected to the embezzlement of more than $20 million of the firm’s premium fund trust over a period of 10 years.

Segal faces sentencing Feb. 23 and may get as much as 20 years in prison.

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