TIL Ponzi schemes was named after Charles Ponzi. In the early 1900s, Ponzi launched a scheme that guaranteed investors a 50 percent return on their investment in postal coupons. Although he was able to pay his initial backers, the scheme dissolved when he was unable to pay later investors.

Read more: https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/ponzi-schemes

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