What a Ponzi scheme actually is

Charles Ponzi conducted a financial fraud so audacious he became the biggest brand name in crime. Yet most people don’t know what he actually did and those who do are often hard-pressed to explain why it was special.

So why, more than 100 years later, do we call so many financial scams a Ponzi scheme?

Brian tells the story of a poor boy from Italy whose name is still on the lips of everyone worried they’re about to be made a sucker.

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