ponzi
A type of investment scam.
A ponzi scheme is a fraudulent investment operation that involves paying returns to investors out of the money raised from new investors.
The scheme is named after Charles Ponzi, an Italian immigrant to the United States in the 1920s.
A ponzi scheme is a fraudulent investment operation that involves paying returns to investors out of the money raised from new investors.
The scheme is named after Charles Ponzi, an Italian immigrant to the United States in the 1920s.
Example:
I got taken by a HYIP ponzi scam last week. They promised 20% a month but ran away with my money!
I got taken by a HYIP ponzi scam last week. They promised 20% a month but ran away with my money!