Prosecutors said Mark Diamond violated terms of his bond when he scammed more senior citizens out of hundreds of thousands of dollars in a home repair and loan fraud scheme.
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He has been behind bars awaiting trial.
Now, Diamond's attorneys have told the judge that he'll plead guilty.
A hearing is set for next month.
Two of Diamond's co-defendants already pleaded guilty.
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Diamond, a Chicago contractor, left homes in much worse condition than he promised, victims said.
"I knew the day was coming," said the Rev. Robin Hood, director of the Illinois Anti-Foreclosure Coalition. "A predator don't know anything else besides being a predator... Mark Diamond was the perfect predator of senior citizens."
Hood has close ties to this case, as his late aunt was a victim of Diamond's alleged home repair scam.
The family paid him more than $100,000 to fix their home. Now, years later, it still looks the same.