Ponzi was soliciting investments without figuring out those pesky details of how he would actually make money. He got around this by giving out just enough information for people to think it was a brilliant idea. Do not invest in something where you don't understand all the details, though. Ponzi knew that people wouldn't care and then he'd lean in for the kill.
Some of history's biggest financial scams owe their name to Charles Ponzi. Here's the story of the man behind the eponymous scheme.
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