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

Origin of PONZI SCHEME

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

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