Steven Hoffenberg Criminal Charges, Criminal Penalty, Released, Movie, Net Worth

Steven Jude Hoffenberg an American businessman and notorious fraudster has died. Hoffenberg was born in 1945 and died in August 2022 aged 77.

His body was discovered on August 23, 2022. However, it was unclear how long he had been deceased as his body was badly decomposed.

Hoffenberg was the founder, CEO, president, and chairman of Towers Financial Corporation, a debt collection agency, which was later discovered to be a Ponzi scheme.

He also owned The New York Post for three months, with his ownership coming to an end in March 1993.

Towers Financial collapsed in 1993, the same year he owned The New York Times.

Steven Hoffenberg criminal charges

In 1995, Hoffenberg pleaded guilty to bilking investors out of $475 million.

He was charged with five counts of securities fraud, tax evasion, and obstruction of a Securities and Exchange Commission inquiry.

Steven Hoffenberg criminal penalty

Hoffenberg 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”.

Steven Hoffenberg released

According to the U.S. Bureau of Prisons, Hoffenberg was released in October 2013.

Steven Hoffenberg movie

Hoffenberg is known for Epstein’s Shadow: Ghislaine Maxwell (2021), Jeffrey Epstein: Filthy Rich (2020) and Victoria’s Secret: Angels and Demons (2022).

Steven Hoffenberg net worth

At time of death, Hoffenberg had an estimated net worth of $5million.