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Ponzi's Scheme: The True Story of a Financial Legend
by Mitchell Zuckerman
Charles Ponzi devised and carried out the scheme that carries his name. Many investors did indeed double their investments, as Ponzi would use money of new investors to pay old investors, and Ponzi himself became a millionaire. Eventually, Zuckoff shows, the Boston Post uncovered this "robbing Peter to pay Paul" system (as it was then known), and Ponzi's life unraveled. |