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 I :92-cv-08998-SS 1:93-cv-00810-WK-AJP 1:93-cv-00855-WK-KAR 1: 93-cv-00987-WK 1:93-cv-0 1045-WK I:93cv-01047-WK I:93-cv-01094-WK I:93-cv-0 1095-WK I :93-cv-01155-WK I:93-cv-0 1303-WK Foti v. Towers Financial Corp. United Air Fleet v. Hoffenberg. et al Gold. et a! v. Towers Financial. et al Field v. Tuts Financial Corp.. ell Ziegler v. T'.ws Financial Corp., et al lzzo v. Towers Financial. .4 al Batten. et al v. Towers Financial et al et al v. Twrs Financial Corp.. et al Leibman, et a! v. Towers Financial, et al Penner v. Towers Financial, ct al Thom. el al v. Mrs Financial Corp.. et al I:93-cv-01543-WK Siudmak. et al v. Towers Financial, et al filed 03/12/93 1:93-cv-01686-WK-KAR Dank of Cape Verde v. TFC Funding Corp.. eta filed 03/17/93 1:93-cv-04449-WK Dinsmore v. Towers Financial. et al filed 06/30/93 1:94-cv-00619-WK-KAR Davis v. Hoffenberg. et al filed 02/01/94 1:94-cv-00724-W1C Rothman v. Hoffenberg 1 :94-cv-00725-WK General Retirement. el al v. Hoffenberg. et al I:94-cv-00814-WK Incl. et al v. Hoffenberg. et al 1:94-ev-02727-WK Amer. Intl Lines, dal v. Tow= Financial, is al filed 04/14/94 1:94-cv-09344-WK-AN Sheridan. et al v. Hoffenberg. et al filed 12/29/94 I:96-cv-04656-MGC Cohen, et al v. Hoffenberg, e