A federal judge has ruled that jailed Illinois insurance mogul Michael “Mickey” Segal has the mental competency needed to be sentenced, according to Associated Press.
Segal was found guilty of stealing more than $30 million from a trust fund in June 2004.
After Segal was convicted, his attorneys argued that he was mentally incompetent and unable to defend himself during a sentencing hearing. Federal Judge Ruben Castillo ruled that Segal is competent and set Segal’s sentencing hearing for Nov. 30.
Prosecutors argued at trial that Segal looted a restricted account at his Near North Insurance Brokerage to fund a high-end lifestyle. If he were declared mentally incompetent, Segal could have been sent to a prison medical facility for treatment.
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