Michael Hild News Today

Richmond is in the midst of a major reinvention, a fluctuating scale of positives and negatives that have breathed new life into our city while threatening its endearing and enduring

If the amount is approved by the court and Hild's conviction survives his appeal, the restitution would be owed to four lenders and the bankruptcy estate of his former company.

A federal judge in Manhattan has shed new light on how much in criminal restitution embattled Richmond businessman Michael Hild might have to fork over.

VACU’s efforts come nearly four years after Hild’s now-defunct reverse mortgage company Live Well Financial was forced into bankruptcy and Hild was subsequently charged and convicted of fraud.

The lawsuit’s ultimate goal is to allow the Chesterfield-based lender to take possession of the real estate, likely through foreclosure, and then sell it off to help pay down the $6 million loan balance.

A class-action suit brought by a former Live Well employee earned preliminary approval for a seven-figure settlement.

Another former Live Well Financial employee who had a hand in the scheme that caused the collapse of the Chesterfield-based mortgage company is walking away with no prison time.

The former Live Well Financial CEO still has his pending appeal as a way to potentially overturn his conviction and stay out of prison.

The former reverse mortgage industry participant remains free pending an appeal as the restitution question will be decided by someone else.

Manchester is one of several neighborhoods in Richmond’s South Side where residents have to drive about between 10 and 15 minutes in most directions to reach a grocery store. And for those without a car, the trip by bus or bike can take even longer.