Charles Ponzi

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Bernie Madoff: What is a Ponzi scheme and who is Charles Ponzi?

Ponzi schemes, like that of Bernie Madoff, the largest in world history, are really quite simple. Basically, earlier investors are paid with the proceeds of later investors. Like a House of Cards, if anything happens, it's destined to fall apart. Who was Charles Ponzi?. The scheme is named after Charles...
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The Rise and Fall of Notorious Con Man: Charles Ponzi

Charles Ponzi was born Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi on March 3, 1882, in the town of Lugo in northern Italy. His parents were Oreste and Imelda Ponzi. A lot of the information on Ponzi’s early years comes from the man himself from interviews he gave after he became a national celebrity, as well as his boastful autobiography. As you might imagine, there is an inherent risk when you take a con man at his word, but we have little choice here.
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Patron Saint of the Wall Street Fraudster: Who Was Charles Ponzi?

“Accumulate! Accumulate! That is Moses and the Prophets!”. The signs, it is almost trite to observe, were there. Charles Ponzi arrived as an almost penniless Italian immigrant in Boston in 1903, having lost all his money to a card shark en voyage and owning only a ticket via New York to meet his relatives in Pittsburgh. He bumped through a series of clerical and menial jobs before winding up in a Montreal jail, claiming that the banking fraud that had put him there was all a big misunderstanding, probably the fault of one of his love rivals, and that he would one day be avenged. After being encouraged to seek his fortune outside the Dominions of Canada, he headed back to the USA in the company of a party of illegal immigrants, which resulted in another short jail sentence.
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