Towers Financial

Debt collection and reinsurance business that was the vehicle for Hoffenberg's $450 million Ponzi scheme, where Epstein worked as a paid consultant

Key Relationships

Charged With

• Organization Securities and Exchange Commission (SEC) - The SEC charged Towers Financial with fraud in February 1993 for falsifying financial statements Official Document
• Organization Securities and Exchange Commission - The SEC charged Towers Financial in February 1993 with fraudulently reporting profits while actually losing money. Official Document
• Organization Securities and Exchange Commission - In February 1993, the SEC charged Towers Financial with fraudulently reporting profits while actually losing $137 mil... Official Document

Connected To

• Organization Pan Am - Hoffenberg and Epstein unsuccessfully attempted a corporate takeover of Pan Am using Towers Financial as their raidin... Credible Reporting
• Event Pan Am Flight 103 bombing - The 1988 bombing of Pan Am Flight 103 contributed to Pan Am's bankruptcy, which in turn contributed to the failure of... Credible Reporting
• Organization Emery Air Freight Corp - Hoffenberg and Epstein made an unsuccessful bid to take over Emery Air Freight Corp in 1988. Single Source

Employed By

• Person Mitchell Brater - Brater was Vice Chairman of Towers Financial and was sentenced to prison for fraud Court Record
• Person Michael Rosoff - Rosoff was chief legal officer of Towers Financial and was sentenced to prison and disbarred for fraud Court Record
• Person Steven Hoffenberg - Hoffenberg ran Towers Financial where Epstein worked as a consultant Court Record
• Person Stephen Hoffenberg - Hoffenberg worked at and committed Ponzi scheme crimes through Towers Financial Corporation Credible Reporting
• Person Jeffrey Epstein - Epstein worked as a paid consultant for Towers Financial while Hoffenberg ran the company Court Record

Part Of

• Event Towers Financial Ponzi Scheme - The Ponzi scheme crimes were conducted through and as part of Towers Financial Corporation's operations during the 19... Credible Reporting
• Event Chapter 11 bankruptcy filing - Towers Financial filed for bankruptcy protection under Chapter 11 in March 1993. Official Document
• Event Towers Financial Corporation Ponzi scheme - Towers Financial Corporation imploded in 1993 when exposed as a Ponzi scheme losing over $450 million. Court Record

Owned

• Person Steven Hoffenberg - Steven Hoffenberg ran Towers Financial in the 1980s as a debt collection and reinsurance business that became a $450 ... Credible Reporting
• Person Steven Hoffenberg - Hoffenberg hired Epstein as a consultant for Towers Financial Corporation in 1987; company collapsed in 1993 as Ponzi... Court Record

Associated With

• Person Steven Hoffenberg - Hoffenberg was the founder, CEO, president, and chairman of Towers Financial Corporation from the early 1970s until i... Court Record

Source Documents & Evidence

• 📖https://en.wikipedia.org/wiki/Jeffrey_Epstein
• 🔗https://www.rollingstone.com/culture/culture-features/jeffrey-epstein-steven-hof...
• 📖https://en.wikipedia.org/wiki/Steven_Hoffenberg
• 📖https://en.wikipedia.org/wiki/Towers_Financial_Corporation
• 🔗https://www.rollingstone.com/culture/culture-features/jeffrey-epstein-steven-hof...
• 📖https://en.wikipedia.org/wiki/Wealth_of_Jeffrey_Epstein
• 📰https://news.google.com/rss/articles/CBMiygFBVV95cUxPaF9UZDhLY1FJUjUtUGFSTVBiWTJ...
• 📰https://news.google.com/rss/articles/CBMie0FVX3lxTFB5c0FYcGg0V01sUHIzZ1RXXzYyWHR...