Jury Suggests Chicago Tycoon Forfeit $30M

[emad]

Guardian snip
Wednesday June 23, 2004 2:01 PM


CHICAGO (AP) - A federal court jury has ordered a politically connected insurance tycoon convicted of embezzling more than $20 million from his own company to forfeit $30 million to the government.

The jury also ordered Michael Segal to forfeit 60 percent of his interest in Near North Insurance Brokerage Inc.

Segal, 61, was taken into custody immediately after the verdict Tuesday because the judge considered him a flight risk.

Segal was convicted Monday and faces at least 20 years in prison. No sentencing date has been set. Segal's company also was convicted on charges including mail fraud and embezzlement.

More:
http://www.guardian.co.uk/worldlatest/story/0,1280,-4236675,00.html

[lil-petunia]

1. Segal was the inside man

for the criminal political combine running Chicago. And Illinois. His conviction has the rats scurrying to jump off the ship, maybe even leave the country.

[salin]

2. Would be interested in more

info/background per this angle.

[chiburb]

3. You asked for it...

Segal fantasies enough to make people nervous


Snip:

Segal has resisted talking while he was free. But 20 years is a long time to wear your Thinkin' Cap and your Rememberin' Cap and your I Shoulda Squealed Cap.

Another guy who wasn't nervous was Mayor Richard Daley, whose brother, Cook County Commissioner John Daley, has done oodles of insurance business with Segal. John also insured Mike Tadin and other Bridgeport truckers involved in the Hired Truck scandal. And he insured the wrought-iron fence kings, G.F. Structures.

The question political Chicago is asking, privately, is whether Segal will sing.

And so, I'd like to offer a riddle in response:

How do you turn a Segal into a canary?

Answer: 20 years and $30 million.

http://www.chicagotribune.com/news/columnists/chi-0406230386jun23,1,5630289.column?coll=chi-news-col

[salin]

4. Appears to have the potential for a long hot

summer for some Chicago politicos... reminiscent (though different in nature), perhaps, of the heat in the early nineties when one of the most powerful legislatures in the House of Reps - from chicago - was facing tons of heat... being pushed out of the House... and eventually faced charges and jail time. Don't recall, though, that he did much singing - but that could be more my memory than anything else. Personally - when I worked on the Hill, I rather liked watching old Rostinkowski in action.

[Trillo]

5. Is this a first? Where the fine exceeds the damages caused by an executiv?

Who was hurt by the embezzling? If so, will they see any direct reparations?

[lil-petunia]

7. all of his clients

who were entitled to several hundred million in returns might have been peeved, but on the other hand, considering the bribes they paid to get involved in City construction projects, and the close connection between Segal and the Mayor's brother, John Daley, a lot of them probably viewed that as simply another bribe and the cost of doing business in chicago.

If you want to see corruption at work, outside of the City Council meetings, that is, I highly recommend stopping in in one of two places

McCormick Place (our major convention and conference halls)

Any City services (Street and Sans) facility.

To get your own convention booth set up you are not permitted to:
plug in your own electric cords
set up your own computer
turn on your own lights
build your own booth you own
put hammer to nail
connect up your e-mail or even wifi
put curtains or border trim on your tables
bring in your own sealed boxes and materials.

If any ANY electrical work needs to be done, including the mere plugging in of a standard plug into a wall outlet, you have to hire two electricians to do it for you - union, and typically at time and a half or more.

I support unions as much as any other guy, but when costs for a convention are 75 - 400% higher than other facilities, one begins to wonder how long they will stay in business.

****
for an exciting visit to a typical Street and Sanitation facility, be ready for a whole new world. The first people you meet don't seem to do anything, except be related to Mayor Daley or his political supporters. Never will you see their manicured hands damaged by holding a shovel, a pick, or even some piping. The second group are lower on the totem poll, these hard workers are the supervisors. usually three of them attend a worksite. The third, by far the smallest, group is the least favored politically. They are the ones actually doing the work. If you can call it that.

the typical day for a city streets and sans worker:
8:00 have your friend punch in your time card.
9:00 show up to your facility.
9:25 finish your coffee
10:00 head out to work site
11:30 arrive at worksite after emergency stop at local Off Track Betting facility.
11:41 take lunch break
1:00 return to Off Track Betting to look at results.
1:15 return to worksite for "secret" inspection by city services inspectors (of which you were notified by certified mail, e-mail, phone call, pager message, and a personal note delivered to you when you arrived this morning)
1;30 work while inspectors view your progress.
2:00 rest in local tavern complaining about Cubs middle hitters
2:30 return to facility and punch out your time sheet.
3:00 go on a arm-twisting tour of local business which have not donated enough money to Mayor Daley's re-election campaign. Make notes of those who do not comply.
4:00 call city zoning inspectors and direct them to miscreants who fail to comply with your donation requests.
5:00 go home.

[President Jesus]

6. This guy really spead the campaign cash around...

Interesting and logn list of donations...

http://www.newsmeat.com/fec/bystate_detail.php?st=IL&last=Segal&first=Michael