Houston Billionaire Charged with Fraud
As multiple stories about fraudulent investment plans have come to light, the term "Ponzi scheme" has become a common phrase in the American vocabulary over the past year. The term was originally coined based on the deception practiced by an Italian immigrant named Charles Ponzi, who was swindling Americans out of their money around the turn of the last century. The most infamous person of our day to develop this illegal scheming is Bernard Madoff....
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