He committed minor financial crimes and a number but momentary times in prison. Back in 1920, he began offering investors a 50% return on their hard-earned money in 45 days and a 100% profit in 90 days.
Though seemed too good to be true, the money poured in. He used money from new investors to pay prior investors and fund his lavish life-style.
By the time his fraud was discovered in August 1920, investors had lost 20 Million dollars and five banks had failed.
He spent 3 years in prison, then deported to Italy, and died without a single cent in 1949 at the age of 66.
The Proverbs Book frequently contrasts the reputation of wise and foolish people: “The name of the righteous is used in blessings, but the name of the wicked will rot… Whoever walks in integrity walks securely, but whoever takes a crooked paths will be found out” (Proverbs 10:7,9).
The Wise King ads “A good name is more desirable than great riches; to be esteemed is better than silver or gold” (22:1).
It is not too late, the Apostle Peter knew this. Peter repeatedly denied that he knew Jesus, he went out and wept bitterly (Matthew 26:75; John 18).
Ponzi could have changed whatsoever associated in his name, but unfortunately didn’t.
Like Peter, we all fall short, but failure is not fatal. Jesus forgave the repentant Peter for his failure (John 21) and used him to preach and lead many to God.
We seek a good name, not to honor ourselves but to glorify Christ our Lord whose name is above all names. God lovingly restores those who turn back to Him.