Steven Hoffenberg
American businessman and fraudster (1945–2022) / From Wikipedia, the free encyclopedia
Steven Jude Hoffenberg (January 12, 1945 – August 2022)[2] was an American businessman and fraudster. He was the founder, CEO, president, and chairman of Towers Financial Corporation, a debt collection agency, which was later discovered to be a Ponzi scheme.[3] In 1993, he rescued the New York Post from bankruptcy, and briefly owned the paper. Towers Financial collapsed in 1993, and in 1995 Hoffenberg pleaded guilty to bilking investors out of $475 million. He was sentenced to 20 years in prison (serving 18 years), plus a $1 million fine and $463 million in restitution. The U.S. SEC considered his financial crimes to be "one of the largest Ponzi schemes in history".[4]
Quick Facts Born, Died ...
Steven Hoffenberg | |
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Born | (1945-01-12)January 12, 1945 Brooklyn, New York City, U.S. |
Died | August 2022(2022-08-00) (aged 77) Derby, Connecticut, U.S. |
Body discovered | August 23, 2022 |
Employer | Towers Financial Corporation |
Known for | Owner of the New York Post (1993), Ponzi scheme at Towers Financial Corporation, Jeffrey Epstein associate |
Criminal charges | Five counts of securities fraud, tax evasion, and obstruction of a Securities and Exchange Commission inquiry[1] |
Criminal penalty | 20 years imprisonment and fine; served 18 years |
Spouses |
Maria Santiago (m. 2014) |
Children | 1 |
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