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India Reins Ponzi Kingpins – Countercurrents
In 1919 Charles Ponzi, a clerk in Boston, suckered Americans with a scheme that is now identified with his name. At a time when interest rates stood at 5 percent, Ponzi offered investors a 50 percent return in just 45 days. The pitch was to buy postal coupons—used for buying foreign stamps, in a particular country, and then capitalize[Read More...]