Ponzi

Wall Street financier, Bernard Madoff, is expected to plead guilty today to 11 felony counts. He may have been the ring leader for the largest financial fraud scheme in American history but he was definitely not the first. Madoff used what is called a ponzi scheme in which investors are paid a high return based on the money from new investors instead of from profits. This type of scheme was named after Charles Ponzi, who was not the first to use such a scheme, but the first to be known nationally for this type of fraud. Find out more about Charles Ponzi by checking out the following book from our collection:




Ponzi's Scheme: the true story of a financial legend
HV6692.P66 Z83 2005