An Italian immigrant who arrived in the United States in 1903 with just $2.50 in his pocket, Charles Ponzi ascended from obscurity to dizzying wealth seemingly overnight. But under the surface of his ...

(Original Caption) Charles Ponzi, the "financial wizard" of Boston who succeeded in amassing a fortune through his endless chain of sales of Foreign Exchange following the World War, later went to ...

What Is a Ponzi Scheme? Ponzi schemes typically lure in investors by promising high returns with little to no risk. Because initial investors often see high returns at first, early Ponzi schemes often ...