A federal judge has scheduled a hearing over whether to allow convicted insurance mogul Michael Segal to leave a Chicago jail to seek medical treatment.
Lawyers for Segal, 62, said in court Wednesday that their client may have lupus. Several of Segal’s friends said they were willing to post up to $2 million in property on his behalf for bond.
Segal has received medical care in custody and should not be released because of “egregious behavior,” Assistant U.S. Attorney Virginia Kendall said, including selling off a number of assets before the government could get its hands on it. Prosecutors consider Segal a flight risk.
U.S. District Judge Ruben Castillo scheduled the hearing for Tuesday.
Segal, former owner and CEO of the Near North Insurance Brokerage, was convicted in June of 26 counts of racketeering, fraud, embezzlement and other charges after a trial in which prosecutors claimed he looted a restricted account at Near North Insurance Brokerage Inc. to finance a lavish lifestyle.
Segal faces up to 20 years in prison at a sentencing date scheduled for Jan. 19.
Copyright 2004 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Was this article valuable?
Here are more articles you may enjoy.
Cracks in O’Hare Columns Aren’t Insured Property Damage, Just Bad Product – Court 
Insurer Chubb Readies $350M Payout Tied to Baltimore Bridge Collapse 
Investors Are Increasingly Interested in a Novel Type of Weather Insurance 
The Future Is Near for Self-Driving Trucks on US Roads 
