This is a complex subject. The vast majority of healthcare professionals believe the ‘diet / health / cholesterol’ hypothesis, but a lot of other people believe that this has been a fatally flawed hypothesis, and actually Cholesterol has been demonised for no good reason.
This article was only released today, and it very accurately sums up the situation.
http://bjsm.bmj.com/content/early/2018/01/16/bjsports-2017-098497
Interesting people who do not agree with the Cholesterol theory include Dr Malcolm Kendrick, I can’t recommend ‘The Great Cholesterol Con’ enough. Dr Aseem Malhotra also has an interesting perspective, as a Cardiologist.
If, as part as your LCHF diet to reduce your HbA1c has actually induced weight loss, your cholesterol will have gone up because you are mobilising fat stores for fuel, and your cholesterol levels will likely drop back normally when your weight has stabilised.