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Ponzi scheme

/ ˈɒԳɪ /

noun

  1. a fraudulent investment operation that pays quick returns to initial contributors using money from subsequent contributors rather than profit

“Collins English Dictionary — Complete & Unabridged” 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012


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Word History and Origins

Origin of Ponzi scheme1

After Charles Ponzi , who famously perpetrated such a scheme in the United States of America in the early 20th century
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Example Sentences

Examples have not been reviewed.

“We remain hopeful that the other criminals who helped Girardi pull off the largest Ponzi scheme in the history of the plaintiff’s bar will also face disbarment and long prison sentences.”

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“We are here today because of Tom Girardi’s lies,” he said, calling Girardi’s handling of client money at the now defunct Girardi Keese law firm a “textbook Ponzi scheme.”

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According to the Post, Trump is worried and reportedly upset to see it in the news and everyone wishes Elon Musk had never publicly called it a Ponzi scheme.

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Musk has described social security as "the biggest Ponzi scheme of all time".

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And they’re ticked off that Musk, a gazillionaire, has called Social Security a ponzi scheme and orchestrated the elimination of thousands of jobs in the agency.

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Ponziponzu