Ponzi, Charles b. March 3, 1882 d. January 18, 1949 Criminal. He is the originator of the type of financial fraud that carries his name. The term "Ponzi scheme" now generally describes a fraudulent investment operation that involves paying abnormally high returns to investors out of the money paid in by subsequent investors, rather than from net revenues generated by any real business. He was born Carlo Ponzi in Lugo, Italy, immigrating to Boston at the age of 21 in 1903. The scheme began when he realized that international postal reply...[Read More] (Bio by: William Seitz) São Francisco Xavier - Cajú, Rio de Janeiro, Rio de Janeiro, Brazil
b. March 3, 1882 d. January 18, 1949