fluxxtee

I feel like giving away shit.

I feel like giving away shit.

8 biggest scam artists in history: 1. Charles Ponzi - The original Ponzi scheme, Charles was born in Italy in 1882 & immigrated to the United States in the early 1900s, where he embarked on a series of dubious ventures before devising his fraudulent scheme. In the late 1910s, Ponzi promised investors a 50% profit within 45 days or 100% profit within 90 days, exploiting the idea of arbitrage involving international postal reply coupons. When a person received a letter from overseas, they also received an IRC that they could redeem to send a reply. Ponzi zeroed in on the idea of buying IRCs in one country & exchanging them in a different country, where the value was higher. He lured investors with the promise of doubling their money within a few months. However, Ponzi’s scheme was unsustainable & based on a flawed premise. Instead of investing in postal reply coupons, he used new investors’ money to pay returns to earlier investors, creating a facade of profitability. This structure relied solely on an influx of new investments to sustain payouts. The scheme unraveled in 1920 when investigative journalists and financial authorities began to question the legitimacy of Ponzi’s operations. As the flow of new investors dwindled, Ponzi could no longer meet the escalating demands for returns. Eventually, his fraudulent scheme collapsed, causing devastating losses for thousands of investors. Ponzi was convicted on federal and state charges of fraud and scammed investors out of an estimated $7 million, reported The Telegraph. However, some sources estimated investors’ losses as high as $20 million.

A spokesperson for the SEC said the agency won’t be commenting beyond the approval order.

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Coachella weekend 2 camera operators need a raise because looks how good Gesaffelstein looks