'First I wanted to talk about a man which has been called as a "celebrity" by many historian.You can call him a "Guru of every Guru" in the fiance world .He had done something which caused US market $20 million in 1920 valued as 222 million now. He is the inventor of the biggest fraudulent scheme ever made in the history .
His name is Carlo Ponzi ,famously known as "Charles Ponzi " a inventor of "Ponzi Scheme ".
what you call a man who convince thousands of investor into his scheme .He just promised investor to give 400% in week's and no wonder why anyone bother about the scheme.Because of him 16 bank got collapsed .
I think it's time to write about "the Most talked about Scheme " called "Ponzi Scheme ". In this investor are being paid by the new investor and so on .This cycle continues for a long time and it need a continuous flow of money .Therefore require a large number of investor .
What did Ponzi actually do.....he started a venture in that he purchase International Post stamp from different country and sell them in USA. So,he get's the difference in the prices.
In the beginning there were few investor and they got handsome profit out of it . But as the investor started increasing there were not enough ticket to exchange. When some curious company started investigating ,they found that there were only 27000 ticket but according to the investment there should be 160 crore ticket to get the speculated profit.
So he got caught and sentence for 5 years in jail.After getting out his wife divorced him and he had to start over in the age of 52 .
Carlo "Charles" Ponzi died in the charity ward of a Rio de Janeiro hospital in 1949, at the age of 67.
"The last picture of Ponzi, taken in the hospital, showed him with a big smile on his face." - Boston Globe
