Charles Ponzi, Date of Birth, Place of Birth, Date of Death

Charles Ponzi

Italian businessman and con artist

Date of Birth: 03-Mar-1882

Place of Birth: Lugo, Emilia-Romagna, Italy

Date of Death: 18-Jan-1949

Profession: banker, criminal, autobiographer

Nationality: United States, Italy

Zodiac Sign: Pisces

Charles Ponzi (, Italian: ['pontsi]; born Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi; March 3, 1882 – January 18, 1949) was an Italian swindler and con artist in the U.S.
and Canada.
His aliases include Charles Ponci, Carlo, and Charles P.
Bianchi.
Born and raised in Italy, he became known in the early 1920s as a swindler in North America for his money-making scheme.
He promised clients a 50% profit within 45 days or 100% profit within 90 days, by buying discounted postal reply coupons in other countries and redeeming them at face value in the United States as a form of arbitrage.
In reality, Ponzi was paying earlier investors using the investments of later investors.
While this type of fraudulent investment scheme was not originally invented by Ponzi, it became so identified with him that it now is referred to as a "Ponzi scheme".
His scheme ran for over a year before it collapsed, costing his "investors" $20 million. Ponzi may have been inspired by the scheme of William F.
Miller, a Brooklyn bookkeeper who in 1899 used the same scheme to take in $1 million.