Segal Arguments Scheduled for Today

The closing arguments in the federal fraud and racketeering trial of Chicago broker Michael Segal are scheduled to be held today in the U.S. District Court of Northern Illinois. They were originally scheduled for last Thursday but were delayed by scheduling conflicts and the court’s closing in honor of President Reagan.

Testimony in the trial ended May 27. Prosecutors allege that the politically clout-heavy Segal, former owner of Near North Insurance Brokerage Inc., embezzled more than $20 million from the firm’s premium fund trust in order to secure political favors.