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.
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