Ponzi Scheme Explained

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The Ponzi Scheme Explained

A Ponzi scheme is investment fraud. In a Ponzi scheme, investors give money to a central figure. There is no true investment. A percentage of the money from late investors is paid to early investors creating the illusion of a return on investment.
Mathematically, it is a certainty that a Ponzi scheme will eventually collapse, because, over time it will become difficult to find new investors.
The Ponzi scheme acquired its name in the 1920s when Charles Ponzi ran a scam promising investors a 90-day return of 50%.
More recently, Bernie Madoff perpetrated a $64 Billion Ponzi scheme that was discovered in 2008. Madoff was sentenced to 150 in prison and fined $170 Billion dollars.
The Ponzi Scheme Explained
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