Towers Financial Corporation
11
Connections
7
Sources
1
Quality /10
3
Entity Types
Collection agency that collapsed in 1993 as a massive Ponzi scheme; Epstein was a consultant there
Connection Graph
Top 9 connections · Full graph →
Evidence Breakdown
rumored
1 (9%)
Mutual Connections
Entities connected to Towers Financial Corporation through shared intermediaries, but not directly linked.
Organization
Towers Financial
Connected via: Securities and Exchange Commission (SEC), Mitchell Brater, Michael Rosoff +4 more
Organization
Federal Bureau of Investigation
Connected via: Securities and Exchange Commission, Steven Hoffenberg, Ghislaine Maxwell +1 more
Organization
New York Post
Connected via: Steven Hoffenberg, Ghislaine Maxwell, Jeffrey Epstein
Person
Maria Farmer
Connected via: Steven Hoffenberg, Ghislaine Maxwell, Jeffrey Epstein
Organization
U.S. prosecutors
Connected via: Steven Hoffenberg, Ghislaine Maxwell, Jeffrey Epstein
Key Relationships
Part Of
- Document Chapter 11 Bankruptcy (Towers Financial) - Towers Financial Corporation filed for bankruptcy protection under Chapter 11 in March 1993 Court Record
Charged With
- Organization Securities and Exchange Commission (SEC) - The SEC charged Towers Financial Corporation in February 1993 for fraudulently reporting profits while actually losin... Court Record
- Organization Securities and Exchange Commission - The SEC investigated and brought charges against Towers Financial Corporation for securities fraud in the Ponzi scheme. Official Document
- Organization Securities and Exchange Commission - The SEC charged Towers Financial Corporation in February 1993 with fraudulent reporting of profits when the company h... Court Record
Employed By
- Person Mitchell Brater - Mitchell Brater was Vice Chairman of Towers Financial Corporation and was sentenced to seven to nine years in prison ... Court Record
- Person Michael Rosoff - Michael Rosoff was chief legal officer of Towers Financial Corporation, sentenced to seven to nine years in prison an... Court Record
- Person Steven Hoffenberg - Hoffenberg was the founder, CEO, president, and chairman of Towers Financial Corporation. Court Record
- Person Stephen Hoffenberg - Stephen Hoffenberg worked at Towers Financial Corporation Credible Reporting
- Person Jeffrey Epstein - Hoffenberg hired Epstein in 1987 as a consultant for Towers Financial Court Record
Owned
- Person Steven Hoffenberg - Hoffenberg was the owner of Towers Financial Corporation Court Record
Connected To
- Person Ghislaine Maxwell - During the period Epstein worked at Towers Financial, Hoffenberg and Epstein traveled everywhere on Hoffenberg's priv... Rumored
Source Documents & Evidence
“In 1993, Towers Financial Corporation imploded when it was exposed as one of the biggest Ponzi schemes in American history, losing over US$450 million of its investors' money (equivalent to $1 billion in 2025).”Accessed: 2026-02-21
“Between 1988 and 1993, Towers Financial raised over $400 million by selling bonds and promissory notes to investors, luring them in using false financial statements. [...] Hoffenberg hired Jeffrey Epstein in 1987 to help with the Towers Financial ...”
“Hoffenberg hired Epstein from about 1987 to 1993 to help with the Towers Financial Corporation... In court documents, Hoffenberg claimed that Epstein was intimately involved in the Ponzi scheme”Accessed: 2026-02-22
“Scams, Schemes, Ruthless Cons: The Untold Story of How Jeffrey Epstein Got Rich - The New York Times”Accessed: 2026-03-10
“Towers Financial Corporation was the debt collection company where Hoffenberg and Epstein worked together, and which collapsed in 1993 amid revelations of a $475 million Ponzi scheme.”
“Jeffrey Epstein worked at Towers Financial with Stephen Hoffenberg, who committed Ponzi scheme crimes in 1980s and 90s”Accessed: 2026-03-16
“In the 1980s, he'd been running Towers Financial, a debt collection and reinsurance business, and had worked alongside Epstein, who was a paid consultant.”Accessed: 2026-03-23
Added: 2026-02-21
· Updated: 2026-05-07
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