Tower Financial history

But in 1987, Towers began constructing one of the largest frauds in history.

A similar unsuccessful bid in 1988 was made to take over Emery Air Freight Corp.

By 1993, prosecutors in Illinois and New York who had spent years investigating Hoffenberg’s companies were ready to spell out their findings.

But his deal collapsed in early 1994, when, according to testimony by prosecutor Daniel Nardello, Hoffenberg violated the agreement by starting three new collection agencies and lying about it to prosecutors — effectively continuing the scheme that got him in trouble in the first place.

In 2007-08 Epstein faced a serious portfolio of charges on statutory rape and sex trafficking, although Florida Southern Attorney General Alexander Acosta agreed to a Federal Non-Prosecution Agreement, thereby reducing all charges to a single instance of solicitation of a girl under 18.

As of 2013, Tower has 38 offices in Missouri.

In 2016, Hoffenberg and some of his victims joined forces to file suit against Epstein, seeking restitution.

In July 2019, Hoffenberg claimed that Epstein was his “uncharged co-conspirator” in the ponzi scheme.

In 2020, a year after his alleged suicide while on detention in a Manhattan prison on new sex trafficking charges involving minors, Epstein was described as having had a "major role" in the Towers Financial Ponzi scheme.