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:…
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