Episode #243 - What Was Ponzi's Scheme? (Part II)
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Episode #243 - What Was Ponzi's Scheme? (Part II)
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Charles Ponzi's remarkable rise and fall played out over the course of a wild eight month period. He went from being a failed importer-exporter mired in debt to Boston's most talked about self-made millionaire in a matter of weeks. After rebranding his company as the Securities Exchange Company, Ponzi started offering remarkable 50% returns to investors after only 90 days. But almost immediately Ponzi's plan to use postal coupons to game international exchange rates became impractical. But, instead of grabbing as much cash as he could and making a dash, Ponzi believed he could transform his scam into a legitimate business. Was Ponzi ever really serious about going straight? Tune-in and find out how the America's nation menace, Babe Ruth, and guy named Get-Rich-Quick Wallingford all play a role in the story.
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