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Live Well’s Founder Charged with $140M Fraud

Friday, Sep 13 2019
Lending
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The founder of reverse mortgage lender Live Well Financial faces federal charges of running a $140 million fraud by overstating the value of its bonds. So reports Reuters.

The scheme ran from September 2015 to May 2019 and generated $24 million in pay for Michael Hild, also Live Well’s CEO, prosecutors have alleged.

Live Well abruptly ceased operations on May 3, laying off its employees, and went into Chapter 7 bankruptcy on July 1.

Read the full article from Reuters. 

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