The Importance of Investing Early

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The trial of Sarah Howe, who defrauded a bank out of money in 1881, was widely covered. She claimed that she only earned $100 a month and never handled a dollar of the customer's deposits. Some commentators blamed the women for being 'ignorant' or 'deluded' The case is considered one of the first high-profile frauds committed by a woman.

In the late 1870s, a woman named Sarah Howe started a bank just for single women called the Ladies’ Deposit Company. She asked new customers to tell their friends about the bank rather than advertising in newspapers, and she promised she could almost double their money.

Today, the story of the woman running a Ponzi scheme before Charles Ponzi was even born.

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Artwork by Julienne Alexander.

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