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Charles Ponzi’s name is and will be forever associated with the financial fraud scheme he did as his way of life. It is widely known as the Ponzi Scheme.

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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