See his memoirs (1937, repr. 2001) biography by M. Zuckoff (2005).
Althought the Ponzi scheme is named for him, Charles Ponzi was not the first to devise this type of fraud William Miller, a bookkeeper, had run a similar fraud in Brooklyn, N.Y., in 1899. In 2008 an investment firm run by Bernard Madoff was exposed as a long-running Ponzi scheme that had defrauded investors of some $65 billion, and Texas financier Allen Stanford was convicted in 2012 of an $8 billion fraud in a Ponzi scheme that involved high-yield certificates of deposit issued by a Caribbean bank.
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.
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