CHICAGO (WLS) — A corrupt Chicago contractor was sentenced Thursday for targeting elderly homeowners.
A bitter day has arrived for Barbara Quintero-Bailey and her sister, Brenda, as Mark Diamond has been sentenced to 17 years in prison by a judge for defrauding their mother, Etta Quintero, and other elderly African American homeowners of millions of dollars, ultimately leading many to lose their homes.
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“No sentence given to Mark Diamond will ever be sufficient to heal the hurt, pain, and suffering that he has caused us,” expressed Quintero-Bailey.
Because of the scheme, the sisters eventually lost their mother’s home to foreclosure.
The now-68-year old Diamond pleaded guilty in May to several counts of federal wire fraud.
Prosecutors say Diamond targeted Black homeowners on the city’s West Side, who were often seniors or disabled.
They say he ran a massive home repair scheme by first gaining the trust of his victims to trick them into reverse home mortgages.
SEE MORE: Chicago contractor to plead guilty after allegedly targeting elderly homeowners: attorneys
Authorities suspect at least 80 people were ripped off, including the aunt of community activist the Rev. Robin Hood.
“Mark Diamond took predator to a whole new level for me, and I don’t believe he will change,” Hood said.
At the sentencing hearing, Judge Franklin Valderrama condemned Diamond’s actions, stating, “Owning a home is a fundamental part of the American dream. You transformed that dream into a living nightmare. Your victims were primarily residents of African American neighborhoods that were already facing challenges. You didn’t choose affluent areas like the North Shore or the Gold Coast. Instead, you preyed on some of the most defenseless communities in the city, specifically targeting the elderly and people with disabilities.”
After hours of victims’ impact statements, Diamond addressed the court, and blamed his crimes on an addiction to money and obsession with providing for his family, saying in part, “Everything said totally is my fault. I take full responsibility for what’s happened. I did the harm that I did, and I take full responsibility.”
“What he doesn’t understand, not only did you hurt the person you took advantage of with this mortgage, he hurt generations,” Quintero-Bailey said.
Diamond has been ordered to pay $2.7 million dollars in restitution, and can’t ever work as a mortgage banker or builder again.
Legal aid lawyers representing nearly 50 of the victims say the families may never be made whole.
“None of the lenders have been held responsible. The entire system has broken down,” said Sam Tenenbaum, with Bluhm Legal Clinic.
Diamond’s four co-conspirators have also been charged, and have pleaded guilty to fraud. They are scheduled to be sentenced.
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