A Chicago contractor accused of scamming elderly homeowners out of millions of dollars was sentenced to 205 months in prison Thursday. Mark Diamond pleaded guilty in May to a federal charge of wire fraud affecting a financial institution.

A man who pleaded guilty of scamming seniors on the city's South and West sides in a reverse mortgage scheme was sentenced Thursday. Mark Diamond was sentenced to 205 months—or 17 years and one month—in prison.

Diamond was sentenced to 205 months—or 17 years and one month—in prison. He was also ordered to pay $2.7 million in restitution.

"Diamond and the co-schemers targeted elderly victims in the Chicago area based on the amount of equity in their homes and their relative lack of financial sophistication," according to the United Sta