Ponzi scheme

Pon·zi scheme

noun \ˈpän-zē-\

Definition of PONZI SCHEME

:  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


Charles Ponzi †1949 American (Ital.-born) swindler
First Known Use: 1973


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Previous Word in the Dictionary: pony up
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