The former CFO of bankrupt reverse mortgage provider Live Well Financial Inc. received a non-incarceratory sentence Thursday, with Manhattan federal prosecutors citing his "exceptional" cooperation in the takedown of a $70 million lender fraud.
Former Live Well CEO Sentenced to 44 Months In Prison
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Former Live Well CEO To Be Sentenced In $200M Bond Fraud
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Live Well Financial CEO Michael Hild Convicted of Fraud over Inflating Value of Bonds as Collateral
Posted on 04/30/2021
VA-based Live Well Financial, Inc. was a privately-owned mortgage originator, servicer and investor, licensed in the United States to operate in 46 states. Michael C. Hild, the company’s CEO, was convicted of conspiring to inflate the value of bonds used as collateral for loans. Hild pleaded not guilty. Hild was found guilty by a federal jury in New York.
Former Live Well Chief Financial Officer Eric Rohr and former head trader Darren Stumberger pleaded guilty and cooperated with the U.S. government in a bid to get lighter sentences.