The Museum of Hoaxes
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Business Scams & Con Artists (1914-1949)
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Charles Ponzi (1883-1949)
Charles Ponzi, an Italian immigrant living in Boston in the early twentieth century, was said by his worshipful followers to have "discovered money." In fact, what he really discovered was a way to bilk the public out of millions of dollars by means of a financial pyramid scheme. There were pyramid schemes before Ponzi came along, but his was so outrageous that this type of scam has ever since borne his name. More→
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All text Copyright © 2011 by Alex Boese, except where otherwise indicated. All rights reserved.