Jeffrey Epstein ‘ran a $500M Ponzi scheme fueled by insider trading and fake stock buys

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

www.dailymail.co.uk/news/article-7483545/Jeffrey-Epstein-ran-500M-Ponzi-scheme-fueled-insider-trading-fake-stock-buys.html

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