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Podcast: Today In History with The Retrospectors
Episode: Ponzi Gets Busted
Description: The ‘Get Rich Quick’ scheme pioneered by scamster Charles Ponzi came to an end with his arrest on 12th August, 1920 - but ‘Ponzi schemes’ remain a popular form of swindling to this day.Â
After promising his victims he could double their money in 90 days, Ponzi was charged with 86 counts of mail-fraud - yet he may not have even initially realized his scheme was illegal.
In this episode, Arion, Rebecca and Olly consider whether Cryptocurrency is the modern-day Ponzi scheme; explain the difference between a Ponzi scheme and a Pyramid scheme; and reveal the ingenious way Ponzi tol...