What inspired the name "Ponzi scheme"?
The Italian town Ponzi
Charles Ponzi's last name
A famous scam in Ponzi, Italy
The Latin word 'Ponzus', meaning cheat
Answer
Ponzi schemes were named after Charles Ponzi, an Italian immigrant who masterminded a massive fraudulent investment scheme in the United States in the early 20th century. The scheme promised investors extremely high returns in a short period of time, with returns being paid to investors from money invested by new investors, rather than from any genuine business activities.
Ponzi Scheme Prodigy: The Charles Ponzi Quiz
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