Charles Ponzi, The Wizard of Lies Who Fell for His Own Scheme

If an investment deal seems too good to be true, it probably is. But when someone as charismatic as Charles Ponzi offers you the deal, it’s kind of hard to remember that. A bashful, colorful Italian, Ponzi arrived in the US in the early 20th century, a time when money became the driving force in America, and “get-rich” schemes were everywhere.

Charles Ponzi and his wife standing in an office room / Charles Ponzi walking down a set of steps with his hat off / Bernie Madoff arriving in a white car to court / Larry King sitting behind his desk with a microphone, mug, and papers on his show Larry King Live

Photo by Bettmann, Getty Images / Pictorial Parade, Archive Photos, Getty Images Stephen Chernin, Getty Images / Jordan Strauss, WireImage, Getty Images

Ponzi seized the opportunity and gave people what they wanted – fast money. He used the old “rob Peter to pay Paul” trick and took it way too far. But Ponzi wasn’t your obvious, greedy thief. He didn’t run off with the money because he genuinely felt like he was helping his clients. Looks like the clever conman managed to fool even himself.

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