(CBS) — Mark Diamond, the federal defendant accused of defrauding seniors of millions of dollars through reverse-mortgage scams, was denied bond Friday as he awaits trial.
Diamond, 60, was arrested Tuesday by FBI and HUD agents, and is being detained at the federal Metropolitan Correctional Center. He is accused of defrauding 122 mostly low-income homeowners and getting many of them to take out reverse mortgages that he controls.
Mark Diamond (courtesy: Chicago Sun-Times)
Gloria Muldrow told CBS 2 that her now-deceased mother trusted Diamond, who also goes by the name of Mark Stevens, to make extensive repairs to her home. Instead, she said, Diamond tricked her 89-year-old mother into signing a reverse mortgage for $110,000, took the money and almost took the family home before the feds arrested him.
“It’s sickening — really sickening,” she said.
Muldrow joined some of the others for his bond hearing, as did activist west side minister the Rev. Robin Hood, who said Diamond should be on trial for murder, not just for financial crimes, because worry caused by his alleged deceptions have caused some of his victims to “die from stress.”
The bond hearing began Thursday, but was postponed for another day because Diamond kept interrupting the proceedings.
from CBS Chicago http://ift.tt/2r5ayBf
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