Reverse-Mortgage Millionaire Guilty Of Massive Debt Fraud

Law360, New York (April 30, 2021, 4:18 PM EDT) -- A Manhattan federal jury on Friday convicted Live Well Financial founder Michael Hild of inflating the reverse-mortgage company's debt by hundreds of millions and taking $24 million in pay before it went under, rejecting his claim that he was "along for the ride" as others broke the law.

The verdict came after about four hours of deliberations by a jury of eight men and four women. It capped a trial being overseen by Manhattan U.S. District Judge Ronnie Abrams that opened April 14.

Hild, Live Well's 46-year-old founder and ex-CEO, was convicted of five conspiracy and fraud counts. Judge Abrams set...

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