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Tue Jul 9, 2019, 11:10 PM

Deutsche Bank provided Epstein significant financial loans to launch his investment firm




In a phone interview with Observer, Steven Hoffenberg alleged Epstein participated in a Ponzi scheme the two ran together in the 1980s, before using the ill-gotten gains to launch his investment company with the help of financial loans from Deutsche Bank.

“Its a very simplistic financial fraud that he concealed from everybody that gave him tainted money,” said Hoffenberg. “He never told anybody, and I literally mean anybody, that gave him any money since he left Towers, that he was part of Towers. And that’s a securities fraud because when you take money from people, you have to tell them your history.”

Hoffenberg oversaw Towers Financial, but was sentenced to 20 years in jail in 1997 for defrauding clients out of $450 million. Although Epstein was never charged in the case, a lawsuit filed last year by former Towers investors lists the financier as “an uncharged co-conspirator,” and alleges he “knowingly and intentionally utilized funds he fraudulently diverted and obtained from this massive Ponzi scheme for his own personal use to support a lavish lifestyle.”

“His lead bank is Deutsche Bank, Germany, that runs the lead on his financial trust company. They run the platform in the trading of the currencies for Epstein and with Epstein. He’s never disclosed to the investors that provide the money to Deutsche Bank his true legacy, that’s securities fraud,” said Hoffenberg. “And that makes the government available to seize all his money, literally all his money. He’s not going to be able to use his money because it’s got to go to a restitution fund because it’s tainted money.”

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Response to Roland99 (Original post)

Tue Jul 9, 2019, 11:11 PM

1. He's a money launderer.

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Response to onecaliberal (Reply #1)

Tue Jul 9, 2019, 11:16 PM

2. Probably ... and runs a big time Badger Game on the side

 

Probably ... and runs a big time Badger Game on the side.

There's really very little new under the sun when it comes to human behavior - and misbehavior.

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Response to RHMerriman (Reply #2)

Wed Jul 10, 2019, 01:13 AM

3. This is true. n/t

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Response to onecaliberal (Reply #3)

Wed Jul 10, 2019, 08:41 PM

8. Whores and cheap grifters...

 


Whores and cheap grifters...

Trump's grandfather was a pimp; that apple didn't fall far from the tree.

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Response to RHMerriman (Reply #8)

Wed Jul 10, 2019, 08:54 PM

9. Dump is even worse.

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Response to Roland99 (Original post)

Wed Jul 10, 2019, 08:01 AM

4. These are the very criminals that the deplorables should go after but instead vote for gop enablers

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Response to Roland99 (Original post)

Wed Jul 10, 2019, 08:52 AM

5. I just hope Deutsche Bank's recent move to dump billions of assets doesn't hinder investigations

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Response to Roland99 (Reply #5)

Wed Jul 10, 2019, 08:57 AM

6. The timing of Deutsche Bank's exit was very curious.

Coincidence?

In Trump World there are no coincidences.

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Response to Hugin (Reply #6)

Wed Jul 10, 2019, 01:03 PM

7. None. And I wouldn't be surprised if Jared's loans were part of the 'bad assets' being dumped

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Response to Roland99 (Reply #7)

Wed Jul 10, 2019, 08:56 PM

10. It would not surprise me in the least. These people commit crimes every where you look.

Nothing is on the level. Not. A. Thing.

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