Did Steven Hoffenberg Serve Time?

Steven Jude Hoffenberg 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.

In 1993, he rescued the New York Post from bankruptcy, and briefly owned the paper.

Hoffenberg was found dead at his Derby, Connecticut apartment on August 23, 2022. He was believed to be 77 years old.

Epstein accuser Maria Farmer said she called police to check in on Hoffenberg after she failed to reach him over the phone.

Did Steven Hoffenberg Serve Time?

Towers Financial collapsed in 1993, and in 1995 Steven 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”.

Hoffenberg was found dead at his Derby, Connecticut apartment on August 23, 2022. He was believed to be 77 years old.