Scam trivia: Pyramid Schemes of the oldest scam

Charles Ponzi became famous in the 1920s for his money-making schemes. It originated in Boston, Massachusetts and quickly…

Charles Ponzi became famous in the 1920s for his money-making schemes. It originated in Boston, Massachusetts and quickly spread across the nation. The scam is now more widely known as the pyramid scheme.


Scam trivia: Pyramid Schemes of the oldest scam
Scam trivia: Pyramid Schemes of the oldest scam

Ponzi originally collected more than $8 million from about 30,000 investors in just seven months. He lured investors with funds from more recent investors, which led the investors to believe that more profits were coming.

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