When and how did Ponzi scheme started?

[btaliat]

Ponzi has long been in existence. I can't forget the very first Ponzi I engaged in 2016. I started making profit and progress every single day until greed took over me. I lost all my money and in the process of recouping my lost, I kept on losing more money. Say no to Ponzi.

 

[ahmedo24]

Ponzi, gambling and casino almost the same thing, they having long been existing , probably they are offline earlier but now they have been moved online probably that is why some people are seeing it to be new or something that has been existing not long.

 

[Ojonuyo]

Ponzi! Ponzi! Ponzi! To me I feel this act of stealing and cheating others of their money started even before I was born. I have come to know that the heart of men is desperately wicked and so many humans are lazy, they love to eat where they have not sown. While others love quick money hence they device dubious ways to cheat people and enrich themselves. But this don't have to be so. Let's cultivate hard work and work for our money ourselves

 

[gammarays]

This shows that ponzi has attained a high level in human lives. There should be a course or institution focused in this because it has done a lot of collateral damage to the society. Like every other venture, it has evolved into a broader and sophisticated system with new inventions every year. In fact it's a multi million if not billion dollars sector.

 

[Nomad]

I came to learn about Ponzi scheme a long time ago, when I was in the college. I studied business, investment and finance in the college. A lot of businesses do not use this term but they are working on Ponzi model. Aome of the modern day Ponzi models are mulri level marketing, high yield investment program, etc.

 

[Akinwale701]

Ponzi scheme is a fraudulent business model where investment from one investor is taken to pay profits to another investor. For example, A is paid with the money collected from B, B is paid with the money collected from C, and this goes on and on until there is someone left to invest. Once there are no investors, the business disappears. The company tells its investor that they have invested in some high yield program, thus are able to pay such a high return, however, this is nothing but a lie. This business is named after an American fraudster called Charles Ponzi. In 1920s, Charles Ponzi created a lot of people and accumulated a lot of money. This business model got his name. However, it was in existence long before Ponzi.
The first kind of Ponzi business model was recorded in Germany and later in the US in the late 19th century.
All of the High Yield Investment Programs operate in the Ponzi scheme.

It Must have been started by some group of jobless individuals whose purpose in life is to rob people of their hard-earned money. Ponzi scheme is a rob Peter to pay Paul scheme. Run for it to avoid premium tears.

Post automatically merged: Jan 12, 2021

Ponzi scheme is a fraudulent business model where investment from one investor is taken to pay profits to another investor. For example, A is paid with the money collected from B, B is paid with the money collected from C, and this goes on and on until there is someone left to invest. Once there are no investors, the business disappears. The company tells its investor that they have invested in some high yield program, thus are able to pay such a high return, however, this is nothing but a lie. This business is named after an American fraudster called Charles Ponzi. In 1920s, Charles Ponzi created a lot of people and accumulated a lot of money. This business model got his name. However, it was in existence long before Ponzi.
The first kind of Ponzi business model was recorded in Germany and later in the US in the late 19th century.
All of the High Yield Investment Programs operate in the Ponzi scheme.

It Must have been started by some group of jobless individuals whose purpose in life is to rob people of their hard-earned money. Ponzi scheme is a rob Peter to pay Paul scheme. Run for it to avoid premium tears.

 

[Highflyer]

The term "Ponzi Scheme" was coined after a swindler named Charles Ponzi in 1919. However, the first recorded instances of this sort of investment scam can be traced back to the mid-to-late 1800s, and were orchestrated by Adele Spitzeder in Germany and Sarah Howe in the United States.Despite the notoriety of Charles Ponzi, the scheme that carries his name appears to have been first perpetrated by Sarah Howe in Boston in 1879, when she created the Ladies' Deposit to help invest money for women.

 

[Ridorz]

I have been introduced to the Ponzi scheme in many times but I usually not have interest in all of them because I know that I will later regret it. Some people do not think about it that you are paying money and get it in double without do anywork for them, they do not sell any product, then how they are getting money to pay you back in double.

 

[Adam13]

Ponzi schemes are created to attract gullible or unsuspecting individuals. Ponzi schemes came into being at a time when legit online investment schemes where on the rise, thus enabling them scam individuals without much suspicions. Some of them attract people by sharing false testimonies made by people who are also part of them thereby making it look real. The surprising thing about such schemes is that they are not actually hard to recognize when scrutinized properly.

 

[haider00]

Ponzi scheme is a fraudulent business model where investment from one investor is taken to pay profits to another investor. For example, A is paid with the money collected from B, B is paid with the money collected from C, and this goes on and on until there is someone left to invest. Once there are no investors, the business disappears. The company tells its investor that they have invested in some high yield program, thus are able to pay such a high return, however, this is nothing but a lie. This business is named after an American fraudster called Charles Ponzi. In 1920s, Charles Ponzi created a lot of people and baccumulated a lot of money. This business model got his name. However, it was in existence long before Ponzi.
The first kind of Ponzi business model was recorded in Germany and later in the US in the late 19th century.
All of the High Yield Investment Programs operate in the Ponzi scheme.

In January 1920, Ponzi started his own company, The "Securities Exchange Company,". , eighteen people invested in his company with a total of $1,800 in this month He paid them promptly, the very next month, with the money obtained from the newer set of investors.

 

[Sammyesx]

Recently Ponzi Scheme has increase due to the surge of people wanting to make money online, so some website are using these tendency to exploit people, there should be a regulatory body against else it will only increase in year to come

 

[Oloritoks]

Ponzi scheme started in Nigeria when MMM became a popular one in Nigeria and many people began to make money from it through networking, but could not go far as a result of not managing well

 

[Sanusi]

I don't really know when ponzi scheme started but its a fraudulent business whereby a person investment is being used to pay another person salary so its like cheating an individual whereby at the end of the day the person that invest heavily will be left with nothing

 

[giddy]

The first pyramid scheme is credited to Charles Ponzi, who in 1919 engineered a "top down" scam involving promissory notes payable in 90 days and a promise to repay investors, at 50% interest, who invested in the notes.

 

[adazeez1995]

I also read that when ponzi was caught, he was charged with 86 counts of mail fraud and sentenced in Massachusetts. He was also sentenced to seven to nine years in state prison. After he was released, he launched another scheme where he sold real estate that were literally underwater. Later on, he was jailed again and ultimately died penniless in Brazil, working as a translator.

 

[Zamaney]

Ponzi scheme is an illegal business practice in which new investor's money is used to make payments to earlier investors. ... In accounting terms, money paid to Ponzi investors, described as income, is actually a distribution of capital.

 

[Adetayo100]

Ponzi began depositing the money in the Hanover Trust Bank of Boston in the hope that once his account was large enough he could impose his will on the bank or even be made its president; he bought a controlling interest in the bank through himself and some of his friends.

 

[Heatman]

If you ask me, who would I ask as well? Don't mind the silly me, it's just that I honestly don't have any idea how or when ponzi started. I only grew up hearing about it, taking part in it, getting paid on some and definitely lost money on so many of them.

 

[lelakil3]

Ponzi scheme is a fraudulent business model where investment from one investor is taken to pay profits to another investor. For example, A is paid with the money collected from B, B is paid with the money collected from C, and this goes on and on until there is someone left to invest. Once there are no investors, the business disappears. The company tells its investor that they have invested in some high yield program, thus are able to pay such a high return, however, this is nothing but a lie. This business is named after an American fraudster called Charles Ponzi. In 1920s, Charles Ponzi created a lot of people and accumulated a lot of money. This business model got his name. However, it was in existence long before Ponzi.
The first kind of Ponzi business model was recorded in Germany and later in the US in the late 19th century.
All of the High Yield Investment Programs operate in the Ponzi scheme.

This ponzi scheme is being controlled by the one has the power in the country or being like as the known person the country then they start this ponzi business just to fool the other by making investing their money then will get a return in month while incrementing it without doing nothing.

 

[Jimmie150]

Up till today there are a lot of ponzi scheme still going on and some people still put in there hard earn money in to it without any fear of losing it. Ponzi is a fraudulent way of collecting money from people all in the name of doubling it.