Ponzi's scheme
In the 1920s, Charles Ponzi tricked thousands of New Englanders into investing in his postage stamp business. In a pyramid scheme, Ponzi used new investors' money to pay off earlier investors. Eventually his scheme collapsed, but his name still lives on, infamously.
In the 1920s, Charles Ponzi tricked thousands of New Englanders into investing in his postage stamp business. In a pyramid scheme, Ponzi used new investors' money to pay off earlier investors. Eventually his scheme collapsed, but his name still lives on, infamously.
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