Federal Judge Could Sentence Former Live Well CEO Michael Hild To 33 Years For $200 Million Bond Fraud Scheme
Federal prosecutors have recommended former Live Well CEO receive 15 years in prison. However, the federal court could send him to prison for up to 33 years. A federal judge found him guilty of orchestrating a $200 million bond fraud scheme in 2021.
However, Michael Hild’s attorneys have asked the court for probation.
Hild was the founder and former CEO of reverse mortgage lender Live Well Financial. A federal judge convicted in April 2021 on securities fraud and wire fraud. In addition, the court found him guilty of bank fraud. Federal prosecutors successfully convicted Hild for operating a $200 million fraud scheme to inflate the value of Live Well’s bond portfolio. Hild wanted to persuade securities dealers and a bank to loan more money to Live Well.
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