Steven Hoffenberg
Steven Hoffenberg | |
|---|---|
Steven Hoffenberg in 1962 | |
| Born | January 12, 1945 Brooklyn, New York City, U.S. |
| Died | August 2022 (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 |
| Criminal penalty | 20 years imprisonment and fine; served 18 years |
| Spouses |
Maria Santiago (m. 2014) |
| Children | 1 |
Steven Jude Hoffenberg (January 12, 1945 – August 2022) 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. 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".