1. The Ponzi Scheme
In the 1920s, Charles Ponzi dazzled investors with promises of massive returns, claiming he could double their money in months through international reply coupons. His operation paid old investors using the cash from new ones—a classic Ponzi scheme that unraveled just as quickly as it rose. If Ponzi pitched his plan today, it would spread like wildfire online, much like modern crypto frauds and financial pyramids. For more on the original scheme, visit history.com.
