Your Gateway to Financial Literacy
What Is a Ponzi Scheme? A Ponzi scheme is a fraudulent investing strategy where returns for earlier investors come from the funds contributed by newer investors, rather than legitimate earnings. Named after the notorious investor Charles Ponzi who first employed this technique in 1920, Ponzi schemes rely on an endless
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Background and Early Life Bernie Madoff, a prominent American financier, is infamous for executing the largest Ponzi scheme in history. Defrauding thousands of investors out of tens of billions of dollars over approximately two decades, Madoff’s financial swindle left a trail of destruction and devastation across the financial landscape. Born
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