Ponzi Scheme is a scam where the operator generates return to older investor with the revenue of new investor. No legitimate business activity or investment is done.
Usually they offer high profits in a short period of time.
When the flow of new accounts runs out, the scheme falls apart.
It's named like this because of Charles Ponzi, who used this technique in early 1.920. He made a fortune in US with arbitrage of international reply coupons for postage stamps.
Usually the operator does not giv detailed information of the operation itself. They say they have secret strategies to achieve high profits.
At the beggining operator pays high amount of profits. Then, with the participation of new investor, the money spent for them is used to pay the older ones.
Usually these schemes difficults the withdraw of profit by showing new and higher investments.
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