When and how did Ponzi scheme started?

[Lagazine]

Ponzi scheme started as a result of the initiative of some people who believe in rubbing Peter to pay Paul. I can't imagine how one will believe that, if one person invest, 3 other people will pay back in 3 folds. How will such business guru get money to pay others? So, I think, Ponzi scheme started as a result of their selfish interest.

 

[Senator]

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.

Ponzi scheme as been on ground for a long time, it became popular more when Desperation's became the father of the day. People wants to succeed at all means were ready to do and go into anything that promises good returns without properly investigating the process.

 

[Heatman]

My first time of hearing about Ponzi scheme was in 2016, likes of MMM, ultimate circle, get help etc.

They came with their high rate of percentage just to attract more people. Some people were lucky while some lost their money to it.

My friends convinced me enough to join but I wasn't convinced enough. My elder brother was lucky enough, he was paid today and it clashed in three days time.

Ponzi scheme is a fraudulent act. I'm not advising anyone to venture into it.

The simple fact is that you are very contented with what you have and not greedy to gamble with the money you have on the MMM ponzi. Most people who got into was all because they were looking ways to double their money in short term. The lucky ones got paid like your brother, the unfortunate ones lost their money.

 

[Abbas ali]

Some of the first recorded incidents to meet the modern definition of Ponzi scheme were carried out from 1869 to 1872 by Adele Spitzeder in Germany and by Sarah Howe in the United States in the 1880s through the "Ladies' Deposit".

 

[shakky2]

ponzi scheme has been in existence since ages just that recently they have tried to tush their games to get more fortunate clients.i could remember the times of 419 when people are being duped but they are introducing more enticing tactics such that people can easily fall

 

[Dowenship]

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.

I pray they should never exist again because they find promising at first but they are deceitful and cunny just like MMM.

Quote of the day!.
Life is a race, never run the race because your friend run it successfully! You meant to run your race differently

 

[Mika]

I pray they should never exist again because they find promising at first but they are deceitful and cunny just like MMM.

Quote of the day!.
Life is a race, never run the race because your friend run it successfully! You meant to run your race differently

sadly, ponzi scheme exists. All the HYIPs are Ponzi schemes. Most of the online investment programs, including cloud mining programs, are also operated in a Ponzi model. People become a victim for two reasons: one, they are ignorant, two, they are looking for a short cut method for financial gains.

 

[KvngMurphy]

I got to know about Ponzi scheme when I was scammed a few years back and everything looked like a dream. Ponzi have been in existence only not so rampant at the moment not until the economy became tied and all sorts of evil were unleashed

 

[Lyrrex]

Technology has made everything very easy for us, Online business or online investment is even more profitable than some offline job nowadays, once you feel it is working well for you, then you start earning at your convenience at home.

 

[Edward2]

They came from so many types of pyramid scheme that can now be hard to identify right away. All of them, however, have a big feature. They offer big returns for customers or investors, mostly through re-employment, not from profits from actual investments or real public sales of products.

 

[Dubai]

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.

Wow! What an interesting piece of information. I never knew it started and I've been wanting to know. The Ponzi scheme became more popular during the MMM investment that caused havoc about 3 years ago. In my country, all most all those who went into it lost money. It was the first time I heard of the Ponzi scheme.

 

[Kiko]

Can you add these Ponzi schemes, fraudulent and illegal investment operation that promises quick, easy, and significant returns on investments with little or no risk. A Ponzi scheme is a type of pyramid scheme in which the operator, at the pyramid’s top, acquires a small group of investors that is initially provided with tremendous investment returns via funds secured from the second group of investors.

 

[Sheyemanu]

Concerning your question, I don't know when Ponzi schemes started, all I know is that Ponzi scheme has caused a whole lots of damage in the life of Investors who they promised to pay some certain amount of ROI at the end of the month. Ponzi scheme started in Germany and it has spread all over the world most especially in underdeveloped countries where poverty Is the order of the day and people are looking for a means to survive. People that run ponzi scheme are people that you can as well call thieves.

 

[Debola]

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.

Some of the first recorded incidents to meet the modern definition of Ponzi scheme were carried out from 1869 to 1872 by Adele Spitzeder in Germany and by Sarah Howe in the United States in the 1880s through the "Ladies' Deposit".

 

[Mika]

Some of the first recorded incidents to meet the modern definition of Ponzi scheme were carried out from 1869 to 1872 by Adele Spitzeder in Germany and by Sarah Howe in the United States in the 1880s through the "Ladies' Deposit".

Well, I did mention about first ever ponzi scheme recorded in my post. I also mentioned the first ponzi scheme in the US even though I did not divulge much on these topics for the fear of post getting longer. Ponzi scheme exists in different names around the world.

 

[Profwriter]

The Word ponzi sounds bitter to the ears of many who have lost valueables and are in debts because of it, it left very few happy, those who registered earlier and left many with pain and grief most especially those who were desperate and invested all they had into it.

 

[Ebuka Stephen]

Ponzi scheme is fraudulent in nature, as this involves using the money of recent investors to pay off the earlier investors, ponzi scheme is 50% lose and 50% win,you can lose all your money to it and you can gain lots of money from it, it is quite risky

Post automatically merged: Feb 9, 2021

Ponzi scheme is fraudulent in nature, as this involves using the money of recent investors to pay off the earlier investors, ponzi scheme is 50% lose and 50% win,you can lose all your money to it and you can gain lots of money from it, it is quite risky

 

[Kiwi]

Many fraudulent mechanisms have emanated since internet business keeps trending. Sometimes you will be convinced because the one who's recruiting you was someone you know and trust and then they will starts showing you how much they earned. If people can control their greed, ponzi schemes will not work. But unfortunately more and more ponzi schemes are popping up everyday and people still fall for their scam.

 

[Dowenship]

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.

Well I don't know the time this ponzi scheme started but I believe lottery games are in form of ponzi so therefore the idea of ponzi scheme as been in existence in 20th century. It took another form in the21st century I must say.

 

[Damismiling]

Fantastic update about the brief history of ponzi, how it got started, and where the name ponzi emanated from. Right from time, I've viewed ponzi investment scheme as a fraudulent type of investment. HYIP is classified under ponzi because it operates on same levels like ponzi, as such I don't waste my time on them.

Sometimes at first stage of kick of every Ponzi schemes it's usually pay of as promised, but after a while it becomes unavailable and people are duped of their money and don't get paid as earlier promised,