IL AG cracking down on mortgage scams

September 15, 2009 3:07:11 PM PDT
Attorney General Lisa Madigan is cracking down on mortgage lenders and repair companies that scam some customers.The suit filed in Cook County circuit court targets a Chicago man and five companies for swindling African-American customers on the city's South and West Sides.

The scheme has at least 36 victims including several who wound up losing their homes to foreclosure.

The suit alleges that mark diamond owns or works with several financing and home repair companies to defraud owners and strip equity from their homes.