CHICAGO – The former CEO of an Illinois railcar management company is charged with embezzling millions of dollars from the company. Michael Calomino served as CEO of a company that provided railcar management services for clients who owned railcars throughout North America. Prosecutors say, from 2016 to 2025, Calomino embezzled more than 22-million-dollars from the company by fraudulently converting funds held by the company on behalf of clients. He transferred the money to personal bank accounts for his own use, including to pay gambling expenses.
Ex-CEO of Illinois Railcar Management Company Charged With Embezzling Over $22M
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