ABS and traction control warning lights

Please could someone help me. I have a 2000 W bmw 530d and had the abs and traction control warning light on. I had a scan done and was told the rear offside wheel speed sensor was u/s. Had this replaced and on startup lights went out but when I braked there was a bad grinding under my foot. After about a mile the warning lights came on again but braking was ok again. I stopped car pumped the brake until pedal was solid, restarted car and warning lights had gone out again but the grinding was back but again after about a mile or two warning lights came back on again and braking was ok again. I think the grinding is the abs but it feels terrible
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