A suburban Chicago businessman has pleaded guilty to stealing $18 million of public money set aside for minority businesses.
Illinois Attorney General Lisa Madigan said Tuesday that 58-year-old Ronald Blum of New Lenox pleaded guilty to two counts of minority business fraud. Blum owns the Markham-based Castle Construction Corp.
Blum was sentenced to two years of probation and fined $20,000. His business also was fined $20,000. Officials say Blum illegally got more than $18 million in construction contracts with the Chicago Transit Authority and the Public Building Commission in 2006 and 2007.
The attorney general’s office says Blum also is to start serving a two-year federal sentence at the end of the month for an August conviction for filing false income tax returns.