EFTA01386760.pdf

Case 1:18-cv-07580 Document 1 Filed 08/20/18 Page 14 of 26 substantial amounts of the proceeds from the sales of the securities to meet TFC's operating expenses; (viii) created phony receivables to misrepresent the true financial ability to repay Bonds; and (ix) agreed from the outset of the SEC's investigation to take whatever steps they deemed necessary to obstruct that investigation and conceal their criminal activities. 60. Beginning in the early 1990's, approximately one hundred (100) lawsuits, including, but not limited to, the cases listed below, were filed in the District Court of the Southern District of New York against Hoffenberg and TFC in connection with the TFC Ponzi Scheme: 1:89-ev-0 1689-12O Foti v. Towers Financial Corp. filed 03/13/89 closed 01/04/90 I :92-cv-08998-SS United Air Fleet v. Hoffenberg. et al filed 12/14/92 closed 11/16/93 1:93-cv-00810-WK-AJP Gold. et a! v. Towers Financial. et al filed 02/10/93 closed 01/05/00 1:93-cv-00855-WK-KAR Field v. Tuts Financial Corp.. ell filed 02/11/93 closed 10/31/95 1:93-cv-00987-WK Ziegler v. T'.ws Financial Corp., et al filed 02/19/93 closed 01/05/00 1:93-cv-0 1045-WK lzzo v. Towers Financial. .4 al filed 02/23/93 closed 01/05/00 I:93cv-01047-WK Batten. et al v. Towers Financial et al filed 02/23/93 closed 01/05/00 I:93-cv-01094-WK et al v. Twrs Financial Corp.. et al filed 02/25/93 closed 01/05/00 I:93-cv-0 1095-WK Leibman, et a! v. Towers Financial, et al filed 02/25/93 closed 01/05/00 I :93-cv-01155-WK Penner v. Towers Financial, ct al filed 03/01193 closed 01/05/00 I:93-cv-0 1303-WK Thom. el al v. Mrs Financial Corp.. et al filed 03/04193 closed 01/05/00 I:93-cv-01543-WK Siudmak. et al v. Towers Financial, et al filed 03/12/93 closed 01/05/00 1:93-cv-01686-WK-KAR Dank of Cape Verde v. TFC Funding Corp.. eta filed 03/17/93 closed 03/10/97 1:93-cv-04449-WK Dinsmore v. Towers Financial. et al filed 06/30/93 closed 08/19/98 1:94-cv-00619-WK-KAR Davis v. Hoffenberg. et al filed 02/01/94 closed 08/02/00 1:94-cv-00724-W1C Rothman v. Hoffenberg filed 02/04/94 closed 08/02/00 1 :94-cv-00725-WK General Retirement. el al v. Hoffenberg. et al filed 02/04/94 closed 04/30/98 I:94-cv-00814-WK Incl. et al v. Hoffenberg. et al filed 02/08/94 closed 08/02/00 1:94-ev-02727-WK Amer. Intl Lines, dal v. Tow= Financial, is al filed 04/14/94 closed 11/30/98 1:94-cv-09344-WK-AN Sheridan. et al v. Hoffenberg. et al filed 12/29/94 closed 06/26/96 I:96-cv-04656-MGC Cohen, et al v. Hoffenberg, et al filed 06/21/96 closed 06/28/96 II:96-cv-05125-PKI.. Cohen, Mal v. Hoffenberg, et al filed 07/08/96 closed 07/15/96 I080-WK-ICAR Shanmut flank v. Towers Financial, et al filed 02125/93 closed 03/18/98 1:94-cv-0 1792-WK Shawmut Bank Conn. v. HotTenberg. el al filed 03/15/94 closed 08/02/00 I:90-cv-00056-LBS Sahlim & Assac. v. Towers Financial Cor filed 01/04/90 closed 12/10/90 I:88-cv-09178-RWS Associated Dry Goods v. Tossers Financial filed 12/28/88 closed 03/06/91 I:93-cv-00992-WK Riviera v. Towers Financial, et al filed 02119/93 closed 01/05A30 I :93-cv-0 1543-WK Siudinak, et al v. Towers Financial. et al filed 03/12/93 closed 01/05/10 I:93-cv-04449-WK Dinsmore v. Towers Financial. et al filed 06/30/93 closed 08/19/98 I :91-cv-05231-1.JF Superstock, Inc. v. Towers Fin. Corp.. et al filal 08/01/91 closed 04/28/92 l:93-cv-00961-WK Murphy, et al v. Tun Financial Corp.. et al filed 02/18/93 closed 03/24/97 1:93-cv-0 1927-WK Von Stange v. Twrs Financial Corp.. et al filed 03/24/93 closed 02/21/97 61. Pursuant to Hoffenberg and the Sentencing Opinion, the victims of the TFC Ponzi Scheme include over 200,000 individuals, who are directly or indirectly the Noteholders and Bondholders of TFC, and are entitled to $475,157,340, plus interest, which now totals approximately one billion dollars ($1,000,000,000). 14 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0088598 CONFIDENTIAL SDNY GM_00234782 EFTA01386760