Ponzi scheme


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Related to Ponzi scheme: hedge fund, MMM, pyramid scheme, Bernie Madoff

Pon·zi scheme

 (pŏn′zē)
n.
A fraud disguised as an investment opportunity, in which initial investors and the perpetrators of the fraud are paid out of funds raised from later investors, and the later investors lose all funds invested.

[After Charles Ponzi (1882?-1949), Italian-born speculator who organized such a scheme (1919-1920).]

Ponzi scheme

(ˈpɒnzɪ)
n
a fraudulent investment operation that pays quick returns to initial contributors using money from subsequent contributors rather than profit
[After Charles Ponzi, who famously perpetrated such a scheme in the United States of America in the early 20th century]
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References in periodicals archive ?
Summary: Bengaluru (Karnataka) [India], Sept 4 (ANI): Days after the Karnataka government handed over the IMA Ponzi Scheme probe to the Central Bureau of Investigation (CBI), several minority leaders on Wednesday met Chief Minister BS Yediyurappa in his office and thanked him for transferring the case.
For more than two decades, he pulled off $65 billion, making it the biggest Ponzi scheme on record.
Be wary of the Ponzi scheme as an investment fraud, the Securities and Exchange Commission (SEC) Cordillera warns the public.
(Kapa), who are being accused of machinating another Ponzi scheme involving P50 billion in investments of its more than five million members.
Summary: Nowhera Shaik is accused of being the mastermind behind a Dh2.60 billion Ponzi scheme
BANKING AND CREDIT NEWS-June 19, 2019--Senators blame TD Bank for ponzi scheme
Citing a witness statement from a creditor, Amey told the High Court there were "concerns that the company has been operated as a fraudulent ponzi scheme".
A Ponzi scheme is a fraudulent investing scam promising high rates of return.The Ponzi scheme generates returns for early investors by acquiring new investors.
Uduk said the venture had no tangible business model, describing it as a Ponzi scheme, where returns would be paid from other people's invested funds.
Katherine lured investors into a Ponzi scheme by falsely claiming the unregistered securities were "low-risk, high-reward investment opportunities in gas and oil projects," Grewal said.
It only took a few hours for a federal jury to hand down a verdict of more than $3.5 million in the first trial of a clawback case arising from the Tom Petters Ponzi scheme.
IANS Bengaluru Karnataka's former BJP Minister and mining baron Gali Janardhana Reddy was arrested and jailed for allegedly shielding two accused persons in a multi-crore Ponzi scheme, a police officer said on Sunday.