Charles Ponzi; The Ponzi Scheme.
Charles Ponzi is one of America’s most notorious con artists. Born 1882, not much is known about Charles’s background, as he was known to fabricate stories about his past. Whilst he might not be a recognizable figure, his “Ponzi Scheme” is extremely well known. However, Charles did not invent the Ponzi Scheme as it has appeared in numorous forms in various publications before Ponzi ever used the scheme, for example, the Ponzi Scheme is mentioned in the Charles Dickens novel Little Dorit which I believe was published in 1857 (although I could be wrong).
I believe the scheme was attributed to Charles Ponzi due to the vast amount of money he made from using the scam. The scam is a fraudulant investment scam, that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation.
Charles Ponzi died in 1949.
