[post_page_title]The very first Ponzi scheme got busted [/post_page_title]
Most of us have heard of a Ponzi scheme, but less know where the word comes from. It was actually a term coined on August 12th, 1920, thanks to Charles Ponzi. That was the date the con man Charles was arrested, for having orchestrated the very first “Ponzi scheme” in history.
He managed to fly under the radar for two years, but eventually got caught and spent 14 years in jail, as well as had his clever (but immoral) scheme turn into a new concept.
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