Charles Ponzi – Boston, 1920

Ponzi

 

Charles Ponzi, after whom the infamous “Ponzi Scheme” was named, was about as unscrupulous a con-man as ever was born. The man must have come into the world with larceny in his heart, because he never gave up his ways or showed any sort of remorse for his chosen means of livelihood.

The lesson to be learned from studying Mr. Ponzi’s sorry history is that if a deal looks too good to be true, it most certainly is. Sadly, many people have not learned this lesson, and con-men and swindlers continue to operate both locally and across international borders (especially with the advent of the internet); P.T. Barnum’s assertion that “there’s a sucker born every minute” is all too true. The authorities do what they can, but especially in the case of international swindlers, such as advance-fee scammers from Nigeria and elsewhere, there is little that can be done.

If you haven’t been to the Sweepstakes Fraud Factsheet yet, you might just want to have a look. Protect your loved ones, especially the elderly and vulnerable.

The Old Wolf has spoken.

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