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Reverse Mortgage Honcho Found Guilty of $200M Debt Scam

A federal jury has found Michael Hild, former CEO of defunct reverse-mortgage business Live Well, guilty for his role in a $200 million bond fraud scheme. So reports WRIC.

prison icon 2071965 640 small 480x320“As a unanimous jury found, Michael Hild obtained millions of dollars in secured loans for Live Well Financial by grossly inflating the value of bonds used as collateral,” U.S. Attorney Audrey Strauss said in a statement.

Hild, whose sentencing is set for August 20, could face decades in prison.

Read the full article from WRIC.

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