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    « Bernard Madoff | Main | Congressional Oversight Panel: Meet Harvard Professor Elizabeth Warren »
    Monday
    Dec152008

    Ponzi Scheme

    DateMonday, December 15, 2008 at 03:39PM

    A Ponzi scheme is a fraudulent investment operation that involves paying abnormally high returns to investors out of the money paid in by subsequent investors, rather than from the profit from any real business. It is named after Charles Ponzi. A Ponzi scheme has similarities with a pyramid scheme though the two types of fraud are different.

    Read more at:

    Wikipedia - Ponzi Scheme

    New York Times - "A look back at Charles Ponzi the Schemer"

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