CHICAGO (FOX 32 News) -
Former Chicago insurance mogul, Mickey Segal, had a wonderful day on Tuesday.
Wonderful because for the first time in nearly eight years, Segal is a free man. In 2004, the politically connected head of the Near North Insurance Brokerage was convicted of stealing more than $20 million from client's funds. He was sentenced to 10 years in prison. Most of the sentence has been served the federal prison in Oxford, Wisconsin.
On Tuesday, Judge Reuben Castillo decided that because of recent Supreme Court rulings regarding honest services fraud, Segal's sentence should be reduced.
The judge released him 131 days earlier than expected.
"I was very gratified to the court," Segal said. "To having the compassion and understanding…I'm just pleased and I'm going to be very low key about it."
Prosecutors opposed the shorter sentence, saying Segal's crimes involved simple theft, not defrauding clients of honest services. They claimed-- and the judge agreed --that Segal has never acknowledged his guilt.
Segal, choking back tears, told the judge that prison was a humbling experience, and that he's a different man than he was eight years ago.
"It's been a very long and difficult journey, for me. And I thank all my friends and supporters," Segal said. "Eight years has given me time to work on a lot of issues and think positively."
Segal's attorney, Marc Martin, says he's happy Segal can finally reunite with his family.
"I'm just thankful that Mr. Segal can get the help that he needs and he can be reunited with his family, his grandchildren, his daughter and his son," Martin said.
Segal says he hopes to stay involved in issues he worked on while he was in prison, especially helping families cope with having a loved one behind bars.
