Ponzi

[ pon-zee ]

noun

1. a swindle in which a quick return, made up of money from new investors, on an initial investment lures the victim into much bigger risks.

Word History and Origins

Origin of Ponzi¹

After Charles Ponzi (died 1949), the organizer of such a scheme in the U.S., 1919–20

Example Sentences

Now he helps bust up Ponzi schemes and other scams targeting newly rich pro athletes.

From Ozy

Butner Federal Correctional Institution in North Carolina, where Ponzi scheme mastermind Bernie Madoff is housed.

From Ozy

Ponzi was brought down due to a series of investigative reports in the Boston Post newspaper, which ultimately led to a federal criminal investigation resulting in mail fraud charges.

From Time

Many Ponzi schemers also appear to be terribly selective in who is allowed to invest with them.

From Time

Behind the scenes, Ponzi was only able to pay his investors using money from new investors, not profits.

From Time

Hardly a reassuring forecast coming from a former casino croupier and Ponzi scheme salesman.

From The Daily Beast

Squaring perfectly with the defense, Madoff insisted that he alone knew he was running a Ponzi scheme.

From The Daily Beast

Had he any remorse, he would have implicated those who conspired with him to commit the greatest Ponzi scheme in history.

From The Daily Beast

The Ponzi king is now saying J.P. Morgan executives suspected he was up to no good before his massive fraud was exposed.

From The Daily Beast

When Suzanne Somers called Obamacare a socialized ponzi scheme, critics swiftly ripped apart her argument.

From The Daily Beast

This Sowles is the worst mountebank since Charlie Ponzi, and you know it.

From Project Gutenberg