Financial Fraud - Charles Ponzi, Full Story of the Original Ponzi Scheme That Fooled Boston in 1920 - Joe Blogs

[TexasTowelie]

CHARLES PONZI was an Italian who moved to the USA and set up an Investment company that became the most famous scam in history. The idea was very simple but was so successful that Ponzi's name will forever be linked to the concept of 'Ponzi Schemes'. In this video I provide you with Charles Ponzi's story and how he became the most INFAMOUS FRAUDSTER in History.

If an investment deal seems too good to be true, it probably is. But when someone as charismatic as Charles Ponzi offers you the deal, it’s kind of hard to remember that. A bashful, colorful Italian, Ponzi arrived in the US in the early 20th century, a time when money became the driving force in America, and “get-rich” schemes were everywhere. Ponzi seized the opportunity and gave people what they wanted – fast money. He used the old “rob Peter to pay Paul” trick and took it way too far and after scamming the people of Boston out of $15 million his name will forever be associated with the infamous Ponzi scheme.

[no_hypocrisy]

1. The classic Get Rich Quick scheme