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Mortgage scam artist admits to conning older Chicago homeowners

Posted on AllSides May 7th, 2024
From The Center

CHICAGO — A Chicago contractor accused of scamming elderly homeowners out of millions of dollars pleaded guilty on Tuesday. The U.S. Attorney for the Northern District of Illinois announced Tuesday that Mark Diamond pleaded guilty to a federal charge of wire fraud affecting a financial institution. Prosecutors said the 67-year-old targeted elderly African American homeowners amid a massive home repair and reverse mortgage scheme. As part of the plea agreement, Diamond admitted to tricking 18 Chicago-area homeowners into signing over their home equity and fraudulently obtaining $929,000. After pocketing the...

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