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Huntey Man Wanted in Fraud Case Captured

Police arrest Huntley insurance broker Russell Palermo.

Huntley police arrested Russell Palermo, a Huntley man wanted on 29 counts of fraud, theft and deceptive practices Friday at a South Elgin condo, authorities said.

His bail was set at $75,000, police said.

Huntley police had been trying to locate Palermo, a 46-year-old Huntley insurance broker, for more than a month after his indictment on the charges.

Palermo is charged with theft, a Class 3 felony; two counts of theft, a Class 2 felony; four counts of financial responsibility, a Class A Misdemeanor; 10 counts of financial responsibility, a Class 3 felony; forgery, a Class 3 felony, nine counts of issuance of insurance without a license, a Class A misdemeanor; deceptive practice, a Class 4 felony; and unlawful use of weapons, a Class A misdemeanor.

The investigation began in September 2011 when a person alleged that a local insurance broker had been charging insurance premiums when there was no policy in place, police said. Palermo owned Palermo Insurance Agency in the 11000 block of Dundee Road in Huntley.

According to police, Palermo would work with several different insurance companies to provide policies for his customers. He handled both business and personal insurance policies, reports stated.

The case came to light when people noticed suspicious activity on their accounts, police said. One victim made a down payment for an insurance policy but the company had no record of the payment, police said.

Huntley police were working with other agencies to find Palermo.

Detectives got a break in the case this week through anonymous information left on the Tip Line indicating that Palermo might be staying in the South Elgin home, Chief John Perkins said in a press release Friday. Huntley police watched the condo and saw Palermo come out to smoke a cigarette on a second floor balcony, Perkins said.

The team went into the condo and took Palermo into custody. He did not resist arrest.

ED April 10, 2012 at 04:45 PM
NEXT COURT DATE FRIDAY APRIL 13TH,2012 MCHENRY COURT HOUSE
ED May 24, 2012 at 03:52 PM
DONT FORGET NEXT COURT DAT TOMORROW MAY 25TH IMPORTANT TOO KEEP THE HEAT ON!!
Tyra Koeppel December 16, 2012 at 08:03 PM
Does anyone have any updates about this case?
ED December 16, 2012 at 08:18 PM
he just keeps gettimg continueances just like his dui/ and driving on suspended license thats been going on for 2years CASE ID 12CF000553 TITLE PEOPLE VS. PALERMO, RUSSELL CASE TYPE CRIMINAL FELONY STATUS OPEN STATUS DATE 06/22/2012 FILING TYPE HUNTLEY INDICTMENT FILING DATE 06/22/2012 Charges / Sentences Parties On Case Financial Summary Court Events Summons FUTURE COURT EVENTS EVENT DATE EVENT TIME LOCATION ROOM TYPE JUDGE 01/07/2013 9:00AM McHenry County Government Center 304 STATUS - TRIAL DATE PRATHER, SHARON L. PREVIOUS COURT EVENTS EVENT DATE ROOM TYPE JUDGE RESULT 07/06/2012 302 SET - DATE FOR PRELIMINARY HEARING CONDON, JOSEPH P. SET - DATE FOR PRELIMINARY HEARING 07/06/2012 302 SET - DATE FOR PRELIMINARY HEARING CONDON, JOSEPH P. APPOINTED - PUBLIC DEFENDER 08/09/2012 GJ GRAND JURY PRATHER, SHARON L. SET - BOND 08/10/2012 302 ARRAIGNMENT CONDON, JOSEPH P. DEMAND - JURY 10/09/2012 302 STATUS - TRIAL DATE CONDON, JOSEPH P. CONTINUED - DEFENDANTS MOTION 10/15/2012 302 MOTION - REASSIGNMENT GRAHAM, GORDON E. ALLOWED - SUBSTITUTION OF JUDGE 10/15/2012 355 MOTION - REASSIGNMENT SULLIVAN, MICHAEL J. REASSIGNED 10/25/2012 304 STATUS - TRIAL DATE PRATHER, SHARON L. CONTINUED - DEFENDANTS MOTION 11/06/2012 304 STATUS - TRIAL DATE GRAHAM, GORDON E. CONTINUED - DEFENDANTS MOTION 11/26/2012 304 STATUS - TRIAL DATE PRATHER, SHARON L. CONTINUED - DEFENDANTS MOTION

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