Recently, one of our national dailies reported with a bold headline: "EFCC Exposes 58 Ponzi Scheme Operators in Nigeria." ...

But what is a Ponzi scheme? And why does it bear this name? First, you need to know a little bit about its namesake, Charles Ponzi. Anyone can work a simple swindle, but you have ...

A Ponzi scheme "is a fraud intended to mislead investors," said Christina C. Benson, an Elon University associate professor ...

The term originated with Charles Ponzi, a Boston swindler who conned investors out of millions in 1920 by promising returns of up to 100% in 90 days on investments in foreign postal coupons.

Unlike Ponzi schemes, Social Security relies on a real asset, the taxing authority of the government, which in turn relies on ...

The term originated with Charles Ponzi, a Boston swindler who conned investors out of millions in 1920 by promising returns of up to 100% in 90 days on investments in foreign postal coupons.

In 1920, Charles Ponzi's "get-rich-quick" scheme started out small and legal. He promised investors a doubling of their investments in 90 days, and fulfilled that promise by buying International ...