Court clears convicted powerbroker to reclaim interest in Chicago Bulls

Chicago's chief federal judge said Monday he will enforce an appeals court ruling that clears the way for former power broker Michael Segal to recover part of his interest in the Chicago Bulls.

U.S. Chief District Judge Ruben Castillo made the ruling at Segal's request. The U.S. 7th Circuit Court of Appeals ruled in January that Segal should be allowed to recover his interest after serving prison time on a racketeering conviction. He spent nearly eight years behind bars for looting millions of dollars out of his company, Near North Insurance, to pay in part for a lavish lifestyle.

Segal was also ordered to pay $842,000 and forfeit to the government his interest in his company and $15 million. And as part of a 2013 settlement, the government kept half of Segal's $4.175 million interest in the Bulls - made up of a 1.7-percent limited partnership in the franchise, a 1.1-percent interest in the United Center and a 1.1-percent interest in the team's broadcasting company.

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