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Who Was Charles Ponzi? The Man Behind Original Scheme.
Manage episode 407332844 series 3561639
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We’ve all heard of Ponzi schemes, but who was the guy they were named after? This is the amazing story of the original swindler Charles Ponzi, a dapper, five-foot-two Italian immigrant who in 1920 raked in an estimated $15 million (now $225 million) in less that year. Ponzi lured over 20,000 Bostonians to invest in his securities with promises of 50 percent profits in 45 days. Back in the day, he was a hero of people—until a newspaper brought him and his now infamous scheme crashing down.
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