Scammers Hall of Fame: Charles Ponzi — Mistakes Were Made

Oxford dictionary defines a Ponzi Scheme as: A form of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

Charles Ponzi was an Italian immigrant who came to the U.S. in 1903 with only $2.50 in his pockets. Ponzi gambled away the rest of his life…