Ponzi: Boston Lined Up to Hand Him Their Savings, Then $20 Million Vanished
In July 1920, crowds lined up in Boston to hand Charles Ponzi their savings. Within weeks he was under arrest, and about $20 million was gone. #history #business #finance #fraud #ponzi #truestory #shorts Sources: Wikipedia, "Charles Ponzi" (his arrival with $2.50 is his own account; the $420,000 by May and $2.5 million by June figures, the auditor's finding of at least $7 million in debt, the guilty plea to mail fraud on 1 Nov 1920, deportation in 1934 and his death in Rio de Janeiro in 1949);
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