Ponzi
[ pon-zee ]
/ ˈpɒn zi /
noun
a swindle in which a quick return, made up of money from new investors, on an initial investment lures the victim into much bigger risks.
Also called
Ponzi game,
Ponzi scheme.
Origin of Ponzi
after Charles
Ponzi (died 1949), the organizer of such a scheme in the U.S., 1919–20
British Dictionary definitions for ponzi scheme
Ponzi scheme
/ (ˈpɒnzɪ) /
noun
a fraudulent investment operation that pays quick returns to initial contributors using money from subsequent contributors rather than profit
Word Origin for Ponzi scheme
After Charles
Ponzi, who famously perpetrated such a scheme in the United States of America in the early 20th century