Ponzi

American  

[pon-zee] / ˈpɒn zi /

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.

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Etymology

Origin of Ponzi

After Charles Ponzi (died 1949), the organizer of such a scheme in the U.S., 1919–20

Example Sentences

Would it have been another Allen Stanford, the now-convicted fraudster who operated a multibillion-dollar Ponzi scheme?

From MarketWatch

But Epstein apparently tried to convince officials to shorten his Florida confinement claiming he was cooperating on the federal prosecution of Bernie Madoff, whose Ponzi scheme rocked Palm Beach.

From The Wall Street Journal

Then, at the age of 54, Allen Stanford, the now-convicted fraudster and his Ponzi scheme, happened.

From MarketWatch

Your experience with Allen Stanford, who is currently serving a 110-year sentence for his multibillion-dollar Ponzi scheme, has changed your life.

From MarketWatch

“I mean, you take a 10%, 20%, 15% of a guy’s NIL money, that’s Bernie Madoff level,” Cronin said Friday, referencing the crooked financier who was convicted in a massive Ponzi scheme.

From Los Angeles Times