Police were called to Hoffenberg’s home in Derby, Connecticut, yesterday by a concerned friend who had not heard from him. But upon arriving, Hoffenberg was found dead lying on the floor of his bedroom.
Police have told DailyMail.com that it is suspected Hoffenberg had been dead for a week already.
Hoffenberg served 18 years in prison for a Ponzi scheme which he claimed Jeffrey Epstein masterminded.
He also briefly funded The New York Post in 1993, ultimately saving it from bankruptcy.
The cause of his death remains unconfirmed, but there are reportedly no signs of trauma to his body.
It has been reported that his body was so decomposed that police believe he had been there for at least a week.
A medical examiner is using dental records to make an official identification.
Hoffenberg’s first scandal was in the 1990s when the firm he ran with Epstein – Towers Financial Corp – swindled more than £344million out of 200 victims.
Since then, he has spent 18 years in prison and attempted to repay his victims and phoned some of them from prison.
READ MORE: Putin triggers major war fears as limo makes late-night Kremlin dash
When FBI agents uncovered the scam at Hoffenberg’s New York firm Towers Financial in 1997, he pleaded guilty to fraud and was jailed, but Epstein was not charged.
Hoffenberg claimed prosecutors were happy treating him as a scapegoat because they did not want a court case dragging on for years.
Hoffenberg said he initially hired Epstein as a consultant in the 1980s then made him a partner when he realised how gifted he was at “schmoozing” rich clients out of huge amounts of money.
Of his own part in their Ponzi scheme, Hoffenberg, who became a born-again Christian behind bars and briefly worked for a pro-Trump political action team in 2016, declared: “There’s no excuse I can render today but to be repentant.”
House price crash MAPPED: New forecast 12% to be wiped out [MAP]
Channel migrant crossings hit new monthly record [INSIGHT]
Manchester Airport evacuated: Passengers panic as emergency alarm ring [PICTURES]
It was reportedly Maria Farmer, the first woman to accuse Epstein of misconduct to the police, who sent in a welfare check for Hoffenberg.
She told DailyMail.com after his death: “Hoff was one of my dearest friends on earth, more like a father than my own father ever was to me. He lived in kindness, always giving what little he had, never asking for anything.
“This man was beyond incredible and a dear friend to survivors of Epstein… as he was also.”