Pon·zi scheme | \ 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
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“Ponzi scheme.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/Ponzi%20scheme. Accessed 20 Oct. 2020.
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Ponzi scheme
nounPon·zi scheme | \ ˈpän-zē-ˌskēm \
\Legal Definition of Ponzi scheme
: an investment swindle in which early investors are paid with sums obtained from later ones in order to create the illusion of profitability
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The first known use of Ponzi scheme was in 1920
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