Was Ponzi ever prosecuted for his scheme?
Yes, shortly after its collapse
No, he was never officially charged
Yes, but many years after the collapse
He fled before charges could be pressed
Answer
Ponzi's fraudulent scheme was exposed and prosecuted shortly after its collapse. The collapse led to an estimated loss of around $20 million for investors. Ponzi was convicted of mail fraud in 1920 and served a sentence of five years. After his release, he attempted to launch other schemes but was unsuccessful. He died in relative poverty in 1949.
Ponzi Scheme Prodigy: The Charles Ponzi Quiz
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