Charles Ponzi
Charles Ponzi was an Italian con artist who became infamous for his namesake investment scheme in the early 20th century. In 1920, he lured thousands of investors in the United States with promises of high returns through the buying and selling of international postal reply coupons. Ponzi's scheme relied on continuously attracting new investors to pay returns to earlier ones, leading to his eventual arrest and the term 'Ponzi scheme' entering the financial lexicon. His fraudulent activities highlighted the vulnerabilities in investment systems and the importance of regulatory oversight.
Born on Mar 03, 1882 (143 years old)
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Indonesia:
Charles Ponzi is known for the Ponzi scheme that bears his name, which he was arrested for in 1920.
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Honduras:
Charles Ponzi is known for popularizing the Ponzi scheme in the 1920s, which promised high returns through fraudulent means.
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Honduras:
Charles Ponzi was an Italian con artist who deceived thousands in the United States in 1920 with a supposed business of buying and selling postal coupons.
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