Ponzi

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Related to Charles Ponzi: Vistula River

Pon•zi

(ˈpɒn zi)

n.
a swindle in which a quick return on an initial investment paid out of funds from new investors lures the victim into bigger risks. Also called Pon′zi scheme`.
[after Charles Ponzi (died 1949), the organizer of such a scheme in the U.S., 1919–20]
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References in periodicals archive ?
Do you think this is a new development beginning with Charles Ponzi in the early part of the 20th century?
In 1919 and 1920, Charles Ponzi defrauded investors of over $4 million, or almost $120 million in 2015 dollars (Altaian, 2008; Coville, 2013; Hussein, 2016).
Charles Ponzi was an infamous swindler who paid returns to early investors with funds received from more recent investors.
Starting with the antics of Charles Ponzi and rolling all the way through Bernie Madoff and beyond, a few high-profile instances of negative behavior can make some prospects assume that all advisors are only in it for themselves and have no real interest in doing good for their clients.
This book explains how Ponzi schemes operate: how they differ from pyramid schemes, Ponzi finance, and other financial arrangements; the schemes of Charles Ponzi, Bernie Madoff, and Allen Stanford.
Charles Ponzi dreamed up devastating, multi-layer scam that would add his name to the English lexicon, gangsters ran rampant, and the rise of jazz helped spark the Harlem Renaissance.
These operations are also named Ponzi schemes, after Charles Ponzi, the American businessman who used the technique in 1920 to defraud investors out of $20 million.
Madoff's Ponzi scheme (named after Charles Ponzi who came up with the first pyramid scheme in the 1920s) is considered to be the largest financial fraud in US history.
In 1949, Charles Ponzi, engineer of one of the most spectacular mass swindles in history, died destitute at a hospital in Rio de Janeiro, Brazil, at age 66.
Schiff explains how Social Security is indeed a Ponzi scheme with one difference, and that is that people had a choice about whether to invest with Charles Ponzi or Bernie Madoff.