Steven Hoffenberg is the chairman of Towersinvestors.com,a financial services company and a website overrun by machine generated advertising, Postpublishing.buzz. In 1995 Hoffenberg pleaded guilty to bilking investors out of $475 million taking away a key element of Jeffrey Epstein’s financial support. In 1997 Judge Robert W. Sweet sentenced him to 20 years in prison, plus a $1 million fine and $463 million in restitution. (per the Bureau of Prisons he was released in October 2013). He settled a civil suit with the U.S. Securities and Exchange Commission for $60 million. Hoffenberg is currently paying back all of the above investors debt.[1][2] He was the owner of the New York Post.
At the time the SEC considered the fraud to be "one of the largest Ponzi schemes in history."[3]