22 min
The Stamps Scam Conned
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- Arts
'Ponzi Schemes' are sadly not uncommon. They are one of the biggest and most serious forms of corporate fraud, but what are they? And who is 'Ponzi' that they have come to be named after?
In the early 1900s Charles Ponzi was a charasmatic Italian desparate to get rich by any means possible.
After a few failed businesses (and a few stays in prison) Ponzi discovered a genuinely clever way to make money but allowed anyone and everyone to invest. His company grew quickly and rapidly out of control, until eventually the bubble burst.
'Ponzi Schemes' are sadly not uncommon. They are one of the biggest and most serious forms of corporate fraud, but what are they? And who is 'Ponzi' that they have come to be named after?
In the early 1900s Charles Ponzi was a charasmatic Italian desparate to get rich by any means possible.
After a few failed businesses (and a few stays in prison) Ponzi discovered a genuinely clever way to make money but allowed anyone and everyone to invest. His company grew quickly and rapidly out of control, until eventually the bubble burst.
22 min