Suburban Chicago man pleads guilty to $18M fraud

By Associated Press
Posted March 8 at 5:37 p.m.

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.

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3 comments:

  1. Not in Chicago March 8 at 7:30 pm

    “… 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…”

    Depending on how much he had to whack up with the politicians who fixed it for him, that’s not so bad a for a days work. No jail.

  2. The dude March 8 at 11:13 pm

    Wow, sounds like it was worth doing the crime.

  3. Sure Wood Jim March 9 at 5:34 a.m.

    Well Good Morning Mr. Blum..How is the cell this morning ? Let’s pursue this and see what politician’s pocket got lined to facilitate CTA contracts….. much more interesting than scum willing to take the fall… Don’t ya Think !!!!!!??????