The Ponzi Scheme

Charles Ponzi was born in Italy, by Oreste and Imelde Ponzi. He arrived to Boston November 1903, twenty-one years old. He started his investment scheme1920 by promise a return of 40% in 90 days. By May 1920 he had taken in $420.000. (5.13 millions in 2017 money) By June 1920, people had invested 2.5 million dollars, and by June people had invested 2.5 million dollars. And by July he had reached a million per week, and by the end of July he was closing in on a million per week. Later this year, he was approaching a million a day. This is when his card house collapsed. What is written above, is the truth, and can be checked on the internet. The rest of the story when another fraud tries to escape to Nepal, but is confronted by our FBI. This person is saved by bank manager, and is not taken to jail.