LOS ANGELES – Helen Golay, 77, and Olga Rutterschmidt, 75, have been convicted of befriending two homeless men, taking out life insurance policies on them, and then collecting on those policies by killing the men in hit-and-run accidents.

Olga Rutterschmidt (pictured above) was convicted of the first-degree murder of Kenneth McDavid, 50, a day after she was found guilty of conspiring to murder him for financial gain. Her 77-year-old co-defendant, Helen Golay, was convicted Wednesday of murdering McDavid and Paul Vados, 73, and counts of conspiracy in both killings.

Vados and McDavid were run over by cars in dark alleys, incidents that authorities said were staged to look like hit-and-run accidents. The women collected $2.8 million on insurance policies they bought for the men.

“These two defendants are by their acts the worst of the worst,” said Deputy District Attorney Bobby Grace. “They didn’t need this money. They weren’t poor and destitute. … these men needed help and they gave them a noose.”

The verdicts so far carry life prison terms without possibility of parole for both women. Prosecutors chose not to seek the death penalty.