15 Shocking Ponzi Schemes In The History Of Business

A Ponzi scheme is defined as ”a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.” With this, the operators for the said Ponzi Schemes are a menace to our society and that they really don’t have a place in our community. Nevertheless, some of these operators eventually found a way to become a millionaire. Some of them were caught and given a sentence, while others were not. Today, let us see some of the shocking Ponzi schemes that were in place in the history of business.

1. Started by Charles Ponzi

Ponzi Schemes technically got its name from Charles Ponzi. Charles was actually a brilliant man for having to think of some things which could actually bring in wealth to someone. The sad thing is that, he was playing around with people’s money. He promised to give his investors a hefty amount of return after a few months, which eventually did not happen.