Jeffrey Epstein ‘ran a $500M Ponzi scheme fueled by insider trading and fake stock buys, then fleeced clients by selling off $275M worth of bogus notes when money ran out,’ claims suit
*Jeffrey Epstein was hit with a class action lawsuit before his death that accused him of running a $500 million Ponzi scheme
*He was sued by Marvin Gerber and Kalma Koenig on behalf of themselves and any other ‘noteholders and bondholders of Towers Financial Corporation’
*This is the same scam that lead to the arrest of his former partner Steve Hoffenberg in 1997, who was sentenced to 20 years in prison
*In 1988, Epstein began pushing ‘promissory notes … that resulted in the sale of approximately $272 million throughout the United States,’ states the suit
*’Between July 1990 and May 1992, TFC sold approximately $210million dollars in TFC Bonds,’ reads the complaint
Epstein also allegedly executed fake stock buys to manipulate the market and traded on insider information, and the victims are entitled to $1 billion says suit
By CHRIS SPARGO FOR DAILYMAIL.COM
PUBLISHED: 16:14 EDT, 19 September 2019 | UPDATED: 16:43 EDT, 19 September 2019