Segal convicted of all counts

[lil-petunia]

So is North Shore.

Hmmm. I wonder how many chicago and Illinois pols are searching for their own defense counsel now that sugar daddy Segal is going to the pen? From multi-millionaire and power broker to all fraudulent and criminal pols, to wearing striped shirts? I bet he breaks down and starts naming names.

Both the Suntimes and Tribune have the story.

This is big. especially with at least 4 Aldercreatures getting huge insurance policies for no cost, not to mention his ties with Ryan, Daley, and so many others.

[aquart]

1. Who is this person? What did he do?

Democrat?

[shraby]

2. Do you have a link? n/t

[DifferentStrokes]

3. AP story in Chicago Sun-Times

http://www.suntimes.com/output/news/segal21.html


Segal convicted on all counts
June 21, 2004

ASSOCIATED PRESS

A federal jury convicted insurance mogul Michael Segal on charges of mail fraud, wire fraud, tax conspiracy and racketeering Monday.

<snip>

The case received much attention in Chicago partly because Segal is known for having close ties to powerful politicians in both parties.

Prosecutors said Segal kept a VIP list of customers who would receive discounts on their insurance-- some of 100 percent.

They also said that then-Gov. George Ryan called the Illinois Department of Insurance when it was looking into Segal's business and expressed his hope that Segal would be OK.

[lil-petunia]

4. With all of the

money that Segal throws around to both parties, and the strings that remain attached to those who accept his largesse, I suspect that there are MANY worried pols in Illinois today.

[laylah]

5. I have never heard of this person

however, if he is going into the Illinois Dept. of Corrections system, he probably has no worries. His money, status, and connections will buy him whatever he wants. The people that run that department have NO honor OR integrity so he'll fit right in!

Jenn

[lil-petunia]

6. Segal

has a long, involved history with the most corrupt pols in city and state politics. He frequently donated tons of money to insiders, who then would drive business to his agency. Mayor Daley's brother fronted for the guy. Lots of city construction would not have happened were it no for the bonds (and resulting payoffs) for construction through his agency.

The man was under indictment and he STILL managed to hand out more than 100,000 this year in donations.

He was an equal opportunity fraudster, reps and dems alike. His conviction has many, many people shitting in their suits. If he talks, many big names in chicago and Illinois are heading to jail.

This might actually clean up politics here. doubtful, but we can dream.

[Southsideirish]

7. Odd he is going straight to jail - no "down time" like Martha Stewart

to await sentencing. I think they may want him to "talk" and he hasn't hasn't done so.