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From Promise to Prison-The Charles Ponzi Story

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From Promise to Prison-The Charles Ponzi Story

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Shalini: Charles Ponzi, was an Italian born con man who became internationally famous in the early 1920s for his money-making scheme.

Ponzi promised his investors that he can give 50% profit within 45 days or double up their profit within 90 days but in real time he's not even engaging in any real time investment. He practice to use the new investor money to pay the old investors and Ponzi had a huge belief in his ability to make money with variety of investment that he was imagining up and he also gained more profits and he starts earning more.

In 1920, Ponzi scheme had been collapsed due to expansion so Ponzi was arrested and jailed for years. Ponzi schemes are still prevalent today, with various high-profile cases. The lesson that we should learn when Ponzi was caught, convicted for his actions, serving time in prison. His story teaches us that people must be held accountable for fraudulent behavior so in that case ensure your business are practices in legal and transparent.

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Avnaesh Sonia Singh: Charles Ponzi was an Italian con artist was a guy that became famous for numerous reasons but especially for his fraud scheme called the Ponzi scheme. He was intelligent in the sense of forming an idea like the mining idea, the import and export idea but in the sense of executing he always ran short. In my opinion was due to lack of intelligence in planning. At last, he executed an idea that was not really his but he took advantage of it, he initially got the idea from Zarosi a bank owner which used the 'Rob Peter to pay Paul' scheme where one pays an initial investment with a later investment which is similar to a Ponzi scheme. He also had gambling syndrome in his initial years, where he gambled all his family's wealth and even gambled the money given to him to start a life in Boston.

I would say he was unwise because he had the delusion where he could get away with the scheme instead of doing what Zarosi did which was fleeing the country which would have made him a really rich man but he was kind of in multiple scenarios like donating his skin and winning a noble prize, buying ice creams for children and trying to constantly live up to his mother dreams.

He used an international exchange at the starting point where he bought stamps worth 6cents for 1 cent and the profit was 5 cents but that was a facade to draw in investors, in reality he never really massively bought the stamps which was another reason why he was fraudulent, long before realizing this fact investigators and local media caught up with his scams and as people learned the truth, new investors ceased to exist and since there were no new investors, he could not pay the older and the business collapsed. He was then jailed and deported to Italy. And this was how the name of Ponzi Scheme came into birth which is now a warning to people of a scam or fraud activity.

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Niethyaa: Charles Ponzi was an Italian con artist who became famous in the early 1920s in the United States and Canada.He promised a 50% profit in 45 days or double the investment in 90 days. The hope of easy money and the unstable economy after World War I made Ponzi seem like a financial expert. However, his scheme depended on using new investors' money to pay earlier ones, which could not last. Journalists uncovered the fraud, leading to his financial collapse, arrest, and several trials. His downfall led to stricter financial regulations and created the term "Ponzi scheme" as a warning against scams. Ponzi’s story reminds investors to be cautious and highlights the media's role in exposing fraud.

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Ponzi, the clever scammer, promised easy money.

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Ponzi, the clever scammer, promised easy money.

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Aiman Hakim : Charles Ponzi was an Italian immigrant who became famous for running one of the biggest financial frauds in history. In the 1920s, he promised investors that he could double their money in just 90 days through a special investment in international reply coupons. Many people believed him and invested, making him very rich. However, instead of actually making money through investments, he paid older investors with new investors’ money. His scheme kept growing until journalists and the government started investigating him. As more people learned the truth, his business collapsed. He was arrested, jailed, and later deported to Italy, where he failed to rebuild his fortune. Today, his name is a warning about financial scams and the dangers of believing in easy money.

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Batrisya: Charles Ponzi, is an ambitious Italian immigrant during 1920s in Boston, devised a fraudulent investment scheme promising high returns, causing financial chaos and earning infamy as history's most notorious con artist. Despite having a seemingly clever investment idea, Ponzi never pursued legitimate investments, focusing instead on maintaining his scheme.

After a lengthy hospital stay due to health issues, Ponzi was faced with the challenge of needing a new business idea. Ponzi's ambitious nature is evident as he aimed to launch a substantial utility company, showcasing his entrepreneurial spirit. Regardless of his flaws, Ponzi displayed acts of generosity, revealing a multifaceted personality that complicates the perception of him as merely a con artist.

Ponzi incorporated his company with names of individuals who were unaware of his intentions, indicating his lack of transparency. Ponzi's idea was controversial, but he believed it was both legal and feasible. He began offering Ponzi notes with high returns, which attracted significant investor interest. The demand for Ponzi notes surged rapidly, leading to a massive influx of money within a short timeframe. The entire scheme escalated quickly, orchestrated by Ponzi himself without any real team support.

As inspection increased, Ponzi attempted to negotiate with authorities to stabilize his operation but ultimately faced legal troubles. The documentary concludes with his conviction for fraud and the lasting impact of his actions on the financial world.

In conclusion this video highlights how, greed can lead to devastating consequences, not just for Ponzi but for countless investors who lost their savings. The lessons that we need to learn from Ponzi's story remain relevant until now, reminding all of us to be vigilant against similar schemes.

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Alif Firdaus:

The documentary tells the story of Charles Ponzi, a man who became famous for running a scam in the 1920s.

The documentary provides a comprehensive overview of Ponzi Scheme, where he promised investors a 50% return within 45 days by exploiting international postal reply coupons.

In reality, No investment can guarantee fast and high profits without risks. Please always be skeptical about this. Ponzi Schemes still happen today, just in different forms. In Malaysia its called "MLM".

The documentary shows how greed and lack of awareness make people fall for scams. It is a good reminder to think carefully before investing and to always check if a business is real.

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Zulaika: Being able to partially run the Hanover Trust Bank is an exciting part of the story. The bank's president had rudely turned him down for a loan months before, so Ponzi, wanting to get back at the president, started buying shares and making huge deposits until he became their biggest depositor. He gets shareholders to back his plan by becoming friends with them and lending them money to invest. The bank's president knows Ponzi would take over if he offers to buy all recently issued stock, so he agrees to sell him most of the shares along with a seat on the board. This shows how smart and determined Ponzi is to get rich, even though his plan is based on lies.

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Busyro Amani: The Ponzi story teaches us a lot about financial fraud especially when it comes to investment schemes that promise large returns with little to no risk.

By first delivering on promised returns and creating a reputation as a financial mastermind, Ponzi won many investors. By focussing on immigrants from the working class, like himself, he also took advantage of insider fraud. This highlights how important it is to practice caution while putting your faith in financial advisors, even if they seem reliable. Always confirm the qualification and performance history of firms and investment professionals.

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K-Rine: type your view/comment after watching the documentary then publish....write your name first