When and how did Ponzi scheme started?

[Dora Wi]

I see no one mentioned Bernie Madoff here. While he wasn't the one who came up with this scheme, he is remembered as the single most successful ponzi schemer in our history. He had a stock brokerage firm and offered to trade for clients and give steady returns, and for a long time - probably several decades - he came through, so much so that people kept recommending his services to their acquaintances - but through all that time, he was just running a ponzi scheme. He was prosecuted in 2009 and he claimed he started the scheme in the 90s, but investigations suggest he actually started a decade, or even two, earlier. It's a fascinating - and somewhat mortifying - story.
He died in prison not long ago.

 

[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.

Ponzi scheme started in the 90s with these days they are not using causes skin to scam people of their money which is not right.

 

[Aaron625]

Ponzi schemes have started way earlier than the year when cryptocurrency was invented on 2008. Though the ponzis have increased as crypto came into existence.

 

[joy101]

Ponzi scheme is really good but I have never invested in ponzi scheme before and I don't really know when ponzi scheme started his own company.

 

[Setho]

I recently learnt that Ponzi schemes we are actually named after a guy named Charles from the 19th century who was known for doing such things.

 

[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.

Funniest game of statistics is 1920s after Charles Ponzi however this day is on this game has been used as come just to extort money from individuals.

 

[nimzy]

Well that's also a form of business even thou it may favour some a d some will be left out of the bar. it started just like any other business and site but it cannot be called a scammed site because it most favour some. thanks for the brief knowledge about the ponzi schemes.

 

[Georgeadawara1]

up till today I still wonder how people fall for this ponzi scheme of a thing
Common how can someone possibly tell you that you will double your capital in twenty four hours and you will go ahead to invest in such thing, that is you are heading to disaster
At first ponzi scheme may appear as if it pays but in long run you will regret it
Stay away from ponziy

 

[Senator]

I cannot say that I have a recollection of the exact date and year that ponzi schemes started around the world. But in my own country, I would want to think it started taking roots around the late 1980s to the early 1990s

 

[Trexxxy]

Ponzi schemes have been in existence as far back as the 90s. I'm not sure but I think the name Ponzi comes from a known fraudster, not entirely sure though.

 

[Aaron625]

Ponzi scheme is really good but I have never invested in ponzi scheme before and I don't really know when ponzi scheme started his own company.

Nope , I don't agree ponzi schemes are good in any way. They have made people lose so much money and yet people are greedy and continue to invest in such sites. There are better investment platforms than hyips.

 

[Kaffyfolla]

A Ponzi scheme is a fraudulent investing scam promising high rate of return with little risk to investors. A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors. This is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers.

 

[Adebayonle7]

Thanks for the enlightenment, never knew the founder's name was Ponzi and it shows that these schemes have existed for a very long time, I came to know about ponzi around 2020 and was scammed that same year, very painful. A much reason to stay away from ponzi, one should prevent being greedy, one should also patronize legit platforms only.

 

[Heatman]

A Ponzi scheme is a fraudulent investing scam promising high rate of return with little risk to investors. A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors. This is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers.

Seriously, I never knew that's what ponzi was all about some years ago when it started trending here and I foolishly invested my money in so many of them and about 70% of them crashed.

 

[kayode10]

I was so unlucky when I was started out to make money online. Ponzi scheme is one of those money making scheme I came across first. I lost a lot of money because I thought it was genuine.

 

[Heatman]

I was so unlucky when I was started out to make money online. Ponzi scheme is one of those money making scheme I came across first. I lost a lot of money because I thought it was genuine.

One of the things that I really hated about Ponzi scheme is that it's always your friend or relative that will introduce it to you believing that it is real and it will end up costing both of you your money.

 

[Good-Person]

Ponzi schemes have been in existence for a very long period of time. However, now there are more ponzi schemes than ever. I think hundreds of ponzi scheme sites are created every year after the creation of cryptocurrencies.

 

[Ub40]

I want to commend you for putting up such review above. Gone are the days where I had something to do with ponzi scheme as I have lost so much in these kind of platforms. I don't have such time and resources to waste on them any more.

 

[jay]

I really appreciate that I wasn't a victim of Ponzi scheme for long, I only tried it it once and since I wasn't so lucky, I have learnt my lesson.

I will not allow any of my family to go into any Ponzi scheme for quick cash.

No one who understands how most or all ponzi schemes works would allow any of their friends to take part in it at all because they will lose their money.

 

[Heatman]

With the experiences that I've had so far in Ponzi schemes it's something that I will be able to know which makes it's something that I will inform my friends to stay away from because they will always listen when I tell them.