The Philadelphia Inquirer, by Joseph N. DiStefano — July 11, 2019
Excerpts:
It’s one of those Wall Street mysteries: How did Jeffrey D. Epstein, the “billionaire financier” and past social pal of Presidents Donald Trump and Bill Clinton, who was arrested on sex-trafficking charges as investigators raided his Manhattan apartment last week, get to be so rich?
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From his prison cell at Fort Dix and later in a string of legal actions, Epstein’s former boss, Steven J. Hoffenberg, has for years claimed a simpler explanation. Hoffenberg alleges that Epstein kept proceeds from Towers Financial Corp., the vast 1990s Ponzi scheme that landed Hoffenberg a 20-year sentence and an order to repay nearly half a billion dollars — more like $1 billion by now, with interest.
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