Ponzi Schemes
Politics, Law & Business
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Narrated by:
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David Whiteley
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By:
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iMinds
About this listen
Learn about investment traps with an insight into fraudulent Ponzi Schemes with iMinds insightful audio knowledge series.
A Ponzi scheme is an illegal business practice. Investors are recruited into a Ponzi scheme and offered excellent returns over time for little or no risk. The operator of a Ponzi scheme relies on further recruitment of investors to accumulate funds. Earlier investors are repaid with later investor’s money. They have also been described as Pyramid Schemes.
Ponzi schemes get their name from Carlo Ponzi, an Italian who immigrated to the US in 1903. He fled Italy to avoid gambling debts and criminal charges. For several years he travelled through the United States and Canada. During this time he was convicted of theft and served jail sentences in both countries. In 1919, at the age of 37, Carlo Ponzi devised the confidence scam that would come to bear his name.
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©2009 iMinds Pty Ltd (P)2009 iMinds Pty LtdListeners also enjoyed...
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Editorial reviews
A helpful introduction to Ponzi schemes and associated types of fraudulent investment operations. In clear, matter-of-fact tones, performer David Whiteley outlines the origins of the term in Carlo Ponzi's schemes of the 1920s, and then explains how such operations work today, as well as their fatal flaws. Listeners also learn about Bernard Madoff, who ran the biggest Ponzi scheme ever seen, and examine confidence schemes of the digital age, such as phishing. Overall, this is a useful short backgrounder for business students and others interested in learning more about these scams.
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What listeners say about Ponzi Schemes
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- Balathayaparan Thayaparan
- 03-18-16
Good
Good informations about Ponzi schemes.
Clearly explanations about the schemes.
His voice is so cool. Thank you so much.
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