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Ponzi

[pon-zee]
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noun
  1. a swindle in which a quick return, made up of money from new investors, on an initial investment lures the victim into much bigger risks.

Origin of Ponzi

after Charles Ponzi (died 1949), the organizer of such a scheme in the U.S., 1919–20
Also called Ponzi game, Ponzi scheme.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

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