• Charles Ponzi : the pioneer

  • Sep 18 2024
  • Length: 4 mins
  • Podcast

Charles Ponzi : the pioneer

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  • Summary

  • We often hear the term Ponzi scheme without knowing exactly where it comes from. A Ponzi scheme - named after the man who invented it in 1920s Boston - is a financial arrangement that attracts customers whose investments are used to pay the originators and first members, thus creating a fraudulent cycle. As long as subscriptions increase, the deception is covered up, but as soon as the income from the new victims is not enough to pay back the clients, the system collapses...


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