How long did Ponzi's scheme run before collapsing?
6 months
12 months
Over a year
Two years
Answer
Over a year, beginning in December 1919 and ending with his arrest in August 1920, Ponzi's scheme enticed thousands of investors with promises of high returns in short periods. He used money from new investors to pay returns to existing ones, creating an illusion of profitability. However, as more investors joined and the demand for payouts grew, the scheme became unsustainable, leading to its eventual collapse.
Ponzi Scheme Prodigy: The Charles Ponzi Quiz
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