Named after the legendary conman, Charles Ponzi, the Ponzi scheme is a staple in financial scams. The scammer promises high return rates to investors and uses other investors to return that money. People nowadays know it as the “pyramid scheme,” with older investors getting paid by newer ones.
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Believe it or not, this scam is still alive and well. Shrewd bankers and malicious minds have continued pulling the Ponzi scheme even after the year 2000. In this article, we’ve decided to present the 10 largest and most outrageous Ponzi schemes. You’ll be surprised at the gullibility of some of the victims.