Near North Owner Michael Segal’s Trial Postponed

March 3, 2003

Near North National Group owner Michael Segal’s federal trial on charges of insurance fraud, mail fraud and racketeering has been postponed until June 16.

The trial, which was scheduled to have begun in April, was postponed after Segal’s lawyers expressed concern that prosecutors were going to file additional charges and they would be left unprepared to mount an adequate defense.

Segal is accused of looting Near North of $20 million which he allegedly used to give loans and gifts to powerful Chicago politicians and friends.

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