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Ponzi scheme

/ ˈpɒnzɪ /

noun

  1. a fraudulent investment operation that pays quick returns to initial contributors using money from subsequent contributors rather than profit
“Collins English Dictionary — Complete & Unabridged” 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012


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Word History and Origins

Origin of Ponzi scheme1

After Charles Ponzi , who famously perpetrated such a scheme in the United States of America in the early 20th century

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