Former founder, CEO, president, and chairman of Towers Financial Corporation, a debt collecting business that was later shown to be a Ponzi scheme, was Steven Jude Hoffenberg. In Brooklyn, New York, in the United States of America, he was born in 1945. On August 23, 2022, at the age of 77, he passed away.

Steven established Towers Financial Corporation in New York City in the early 1970s with the intention of purchasing consumer debt owing to hospitals, banks, and phone companies. He served as its President, Chairman, and Chief Executive Officer, but it turned out to be a Ponzi scheme later on. He spent three months as the owner of the daily tabloid newspaper New York Post in 1993, which had a conservative slant.

Mass layoffs, a widespread staff walkout, missing publications, and insolvency marked the abrupt end of his reign in March 1993. He was detained in February 1994, and the judge sentenced him to 20 years in jail, $1 million in fines, and $463 million in restitution in 1997. (per the Bureau of Prisons he was released in October 2013). He paid $60 million to resolve a civil lawsuit with the US Securities and Exchange Commission.

Who is Steven Hoffenberg’s Daughter?

There is currently no information available on who Steven Hoffenberg’s daughter is or who his children are.


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