Mark Steven Diamond

Photo Source: WGN-TV Channel 9

Location: Illinois

Age at the time of arrest: 68

Date of sentencing: January 2025

Summary: Mark Steven Diamond was given over a 17-year sentence (205 months) in federal prison and ordered to pay $2.7 million in restitution.

Mark Steven Diamond, along with co-conspirators, conducted a reverse mortgage scheme that preyed on elderly homeowners. The scheme targeted elderly victims based on the equity in their homes and their relative lack of financial sophistication. Diamond had victims sign documents under the pretense that home repair work would be conducted, but actually, the documents were related to applying for a loan. HUD-OIG Inspector General Davis stated: “Diamond’s scheme defrauded more than 100 elderly and vulnerable homeowners, preying on their trust and devastating them financially.” Illinois Attorney General Kwame Raoul stated: “Many of these victims were older homeowners who worked and saved their entire lives, and their only mistake was trusting an individual who specifically targeted them to be victims of his scam.”

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