When and how did Ponzi scheme started?

[Eodine]

I really despise Ponzi scheme and I hope this fraudulent act becomes null and void soon. Only the first set of people that pertake in any Ponzi scheme enjoys their package and it doesn't even lasts. So what's the essence of indulging in it?..

The essence is the first set of people that indulge in it and make profit, the government cannot ban Ponzi because they have a hand in it but some make awareness about the dangers of Ponzi but still..

 

[Alexandoy]

I have heared that it was actually named after a man from long ago who was notorious for using such she mes for manipulating people. I do not like ponzi schemes or all those multi level marketing and I try a lot to stay away from them.

You are right, Ponzi is the guy who started that scheme which became popular. But even before that the Ponzi scheme was already being practiced here by scammers. I was in high school (1970) when I first heard of an investment that will yield a high interest. The catch is that you have to recruit at least one investor.

 

[Mostee501]

Very interesting information because am just knowing about Charles ponzi and his doings. I always had a feeling that all high yield investment programs operate in a ponzi scheme pattern.

 

[ahmedo24]

All Ponzi schemes have short life span regardless the way it is packaged , we need to be extra careful when Investing in Ponzi schemes.

 

[Fozzy_boy]

In January 1920, Ponzi started his own company, the "Securities Exchange Company," to promote the scheme. In the first month, 18 people invested in his company with a total of $1,800. He paid them promptly, the very next month, with the money obtained from the newer set of investors.

 

[Good-Person]

All Ponzi schemes have short life span regardless the way it is packaged , we need to be extra careful when Investing in Ponzi schemes.

This is actuallty true. I invested some money in HYIP sites and the websites became scam in no ltime. What's quite worse is the fact that they "lock" your money for a specified amount of time and this raises the risk of loss even more! I will never ever invest in HYIP again.

 

[Richard92]

I have been a part of a lot of Ponzi schemes and lost money on a lot of programs. However, I have also made money. At one time earning from ponzi scheme was my main source of online income

I am not really sure when ponzi scheme started but I know that it has not been long when it started the first time I knew about ponzi scheme was when mmm came out

 

[Bousine123]

Really informative write up my friend. I will say that ponzi schemes and hype platforms are things that are going to stay with us for a pretty long time.

 

[GIFTMICHAEL]

Ponzi have been in existence before the internet even existed. Charles ponzi the chief architect of dubious scheme. He was named after dubious scheme cos he welas caught into it severally which took his life.

 

[Richard92]

Ponzi schemes are named after Charles Ponzi. In the 1920s, Ponzi promised investors a 50% return within a few months for what he claimed was an investment in international mail coupons. Ponzi used funds from new investors to pay fake “returns” to earlier investors.

I don't really know how Ponzi scheme started but all I know is that most times these Ponzi scheme are just a way of scamming people but according to your see it started since 1920.

 

[Heatman]

Seriously I don't really care to know how Ponzi scheme actually started but for the fact that I've actually lost a decent amount of money to Ponzi makes it very difficult for me to think about them.

 

[Bookwormlux1]

These Ponzi schemes are continuing to increase daily Because so many individuals have decided to not take their online earning serious and want to get Rich quick.

 

[Yusuf1]

Ponzi scheme has been out for a very long period of time and it's really sad people are still promoting this fraudlent scheme in order to scam unsuspecting victim of their hard earned money

 

[Heatman]

Seriously, I believe that the lot of people don't really even know how Ponzi started and even myself don't really know how it started but we just started hearing about it and investing our money needs and getting scammed.

 

[GIFTMICHAEL]

Provided that humans exist, the fraudulent ones will still be around the good ones. Ponzi scheme have started long ago, still it is operated today through other fraudulent individuals who adopted it.

 

[jeff87]

Ponzi scheme is a fraudulent business model where investment from one investor is taken to pay profits to another investor. For example, A is paid with the money collected from B, B is paid with the money collected from C, and this goes on and on until there is someone left to invest. Once there are no investors, the business disappears. The company tells its investor that they have invested in some high yield program, thus are able to pay such a high return, however, this is nothing but a lie. This business is named after an American fraudster called Charles Ponzi. In 1920s, Charles Ponzi created a lot of people and accumulated a lot of money. This business model got his name. However, it was in existence long before Ponzi.
The first kind of Ponzi business model was recorded in Germany and later in the US in the late 19th century.
All of the High Yield Investment Programs operate in the Ponzi scheme.

Thanks for this wonderful trivia information that you have given us. It is so nice to know that the person who started this was a fraudster name Charles Ponzi. If he is dead by now, then there are many Charles Ponzi actions schemes in the internet through HYIP.

 

[Heatman]

Seriously I really care about how policy scheme started but the most important thing is that people should know that there are Ponzi schemes in order to avoid getting misled and losing their money in the process.

 

[Immilash]

When and how did ponzi scheme started ponzi scheme always atracteb by a t unfortunate investors by preying on their Greer and desolation

 

[Richard92]

Ponzi schemes are named after Charles Ponzi. In the 1920s, Ponzi promised investors a 50% return within a few months for what he claimed was an investment in international mail coupons. Ponzi used funds from new investors to pay fake “returns” to earlier investors.

This is what I never knew thank you for this information I never knew it started 1920 Ponzi scheme however I only knew of Ponzi scheme as at when my mum came out.

 

[Senator]

Ponzi schemes in my country started or should I say began to be making some prominence among the citizens sometimes in the early 1990s there about. That means it has been existing in other parts of the world before then