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Richmond BizSense Reporting Lender wins fight for control of some Hild properties in Manchester

Dogtown Brewing Co., Hot Diggity Donuts and Butterbean café might be on the market in the near future.

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Virginia Credit Union last month prevailed in its bid to put a receivership in place and gain control of five South Richmond properties owned by Church Hill Ventures, the LLC used for years by Hild and his wife Laura for their real estate holdings.

The properties in question are 1200-1206 Hull St.; 1209 Hull St.; 1213 Hull St.; 2010 Maury St.; and 1124 Bainbridge St.

The Hull Street properties include the buildings that house the Hilds’ shuttered Dogtown Brewing Co., Hot Diggity Donuts and Butterbean café. The Maury Street property is a small single-family home and the Bainbridge parcel is an unfinished lot.

If you don’t the Hild saga Housing Wire has this concise summary.

After his arrest by the FBI in 2019 and a protracted trial process, the jury hearing the case determined in April 2021 that Hild participated in an effort to fraudulently inflate the value of the company’s bonds by approximately $200 million in order to allow it to borrow more money.

More than a year later, Hild was sentenced to a prison term of 44 months by presiding Judge Ronnie Abrams in the Southern District Court of New York (SDNY), but he remains free pending an appeal of the conviction.

Following a process to determine restitution to the financial companies that were victimized by the scheme, the magistrate judge overseeing the case ultimately recommended that Hild pay more than $46 million. Hild and his legal team have consistently maintained that the restitution figure should be lower and, in the case of some companies, should be $0.

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Richard Hayes is the co-founder of RVAHub. When he isn't rounding up neighborhood news, he's likely watching soccer or chasing down the latest and greatest board game.