Investment fraud
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Charles Ponzi was an Italian immigrant to the United States who became famous for his Ponzi scheme in the 1920s. He opened an investment company in 1919 that promised 50% returns in just 90 days, attracting thousands of investors who provided over $1 million per week. However, Ponzi was not actually investing the money but rather using new investors' funds to pay earlier investors in a typical Ponzi scheme. After authorities discovered the fraud, Ponzi fled but was eventually caught and served prison time. He later lived in poverty in Brazil, working odd jobs until his death in 1949.
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Mule event processing models | MuleSoft Mysore Meetup #47
Investment fraud
- 1. Investment Fraud By: Ayla Kesecker