Ponzi scheme

/ ˈpɒnzɪ /

noun

a fraudulent investment operation that pays quick returns to initial contributors using money from subsequent contributors rather than profit

After Charles Ponzi , who famously perpetrated such a scheme in the United States of America in the early 20th century

When Suzanne Somers called Obamacare a socialized ponzi scheme, critics swiftly ripped apart her argument.

De la Villehuchet's suicide adds yet another gruesome chapter to the Bernie Madoff Ponzi scheme.

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