Steven Jude Hoffenberg (1945–2022) was an American financier, businessman, and convicted fraudster best known for orchestrating one of the largest Ponzi schemes in U.S. history through Towers Financial Corporation, which he founded. Born in New York City, he co-founded the company with Jeffrey Epstein in the 1980s, initially as a legitimate debt collection agency in 1988, but it quickly evolved into a fraudulent operation that bilked investors out of approximately $460–475 million. Hoffenberg, who mentored Epstein in the 1980s, later claimed that Epstein learned fraudulent tactics from him and continued similar practices on a larger scale. As CEO, president, and chairman, Hoffenberg led a massive securities fraud scheme involving fictitious postal meter leases and other assets. In 1993, amid growing scrutiny, Towers Financial collapsed, leading to Hoffenberg's brief international flight. That same year, he briefly rescued the New York Post from bankruptcy by acquiring it for $30 million, though his ownership was short-lived due to the unfolding scandal. In 1995, Hoffenberg pleaded guilty to securities fraud, conspiracy, and other charges. He was sentenced to 20 years in federal prison, fined $1 million, and ordered to pay $463 million in restitution. The U.S. Securities and Exchange Commission (SEC) described the Towers scheme as one of the biggest Ponzi operations ever. Hoffenberg was released in 2013 after serving 18 years and spent his later years in New York. His life was marked by controversy, including allegations of ties to intelligence operations and organized crime, though many such claims remain unverified. He died in August 2022 at age 77, leaving a legacy as a central figure in white-collar crime networks of the late 20th century.