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A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors. Ponzi schemes are named after Charles Ponzi. In the 1920s, Ponzi promised investors a 50% return within a few months for what he claimed was an investment in international mail coupons. Ponzi used funds from new investors to pay fake "returns" to earlier investors.
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Charles Ponzi (/ ˈ p ɒ n z i /, Italian: ; born Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi; March 3, 1882 – January 18, 1949) was an Italian swindler and con artist in the and Canada. His aliases include Charles Ponci, Carlo, and Charles P. Bianchi. Born and raised in Italy, he became known in the early 1920s as a swindler in North America for his moneymaking scheme.
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· Ponzi and pyramid schemes are selfsustaining as long as cash outflows can be matched by monetary inflows. The basic differences arise in the .
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