The now-defunct Near North insurance brokerage has been fined $1.4 million in connection with the embezzlement activities of its former chief executive officer.
U.S. District Court Judge Ruben Castillo in Chicago imposed the fine on what was once one of the nation's premier brokerage operations.
The firm was convicted last year of 7 counts each of mail and insurance fraud related to the more than $20 million embezzled from the company's premium trust fund by Michael Segal, its onetime CEO.
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