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Ponzi scheme

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noun Pon·zi scheme \ˈpän-zē-\

Definition of Ponzi scheme

  1. :  an investment swindle in which some early investors are paid off with money put up by later ones in order to encourage more and bigger risks



Origin of ponzi scheme

Charles Ponzi †1949 American (Ital.-born) swindler


First Known Use: 1973


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