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Explain what is meant by a Ponzi scheme and how the term originated.

aschaffer

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6 years ago

Explain what is meant by a Ponzi scheme and how the term originated.

Explain what is meant by a Ponzi scheme and how the term originated.

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ag72198

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6 years ago

A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity. The term comes from Charles Ponzi, who duped thousands of New England residents into investing in a postage-stamp speculation scheme back in the 1920s.

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