Man Accused Of Defrauding Seniors Wants Out Of Jail

Date Published: 
April 12, 2018
News Type: 
Program Area(s): 
Single Family Loan Programs

CHICAGO (CBS) — It’s back to jail, at least for now, for a man accused of defrauding more than 100 Chicago seniors.

CBS 2’s Jim Williams reports a federal judge hasn’t yet decided if Mark Diamond should be released on bond.

Barbara Bailey’s mother was a victim.

She says she wants the man responsible to stay in jail.

“If Mr. Diamond is out, he can still go into the neighborhood or contact people to still scheme and defraud people,” says Bailey.

Mark Diamond is accused of stealing from 120 seniors by convincing them to take out reverse mortgages, then pocketing millions in equity.

He has been in custody for more than a year.

His attorney argues Diamond should be eligible for bond.

“He’s 61-years-old with no criminal background,” says Diamond’s attorney James Tunick. “He’s made attempts to rectify some of his wrongdoings. Just like any defendant he should be entitled to a bond.”

In court, Tunick said Diamond is transitioning from male to female and was abused by other inmates at the Metropolitan Correctional Center.

Later outside of court, Tunick said Diamond is actually not transitioning but is still suffering in custody.

He is now at the Livingston County Jail...