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Outline high in terms of monetary loss

The eponymous scheme was orchestrated by Carlo Ponzi, who in 1920 move from anonymity to being a notable Boston millionaire in six months of using this plot. It was assumed that income came from the exchange of international reply coupons. The promised 50 interest (return) on investments of Chinese potential business 45 days or “double your money” in 90 days. About 40,000 people invested about 15 million in total, in the end, only one third of that money was returned to them. Besides the plot Ponzi have been other similar historical patterns:
Ponzi before, in 1899 William’520 Chinese companies Percent ‘Miller opened his business as the’ Union Franklin ‘in Brooklyn, New York. Miller promised 10 interest per week and took advantage of key features of the Ponzi schemes such as the reinvestment of profits from customers. Scam to buyers at about 1 million and was sentenced to jail for 10 years. After being pardoned, he opened a grocery store in Long Island. During the investigation Ponzi, Miller was interviewed by the Boston Post in order to compare with that of his Ponzi scheme, the interviewer found them remarkably similar, but the Ponzi became famous for taking seven times more money .
In Romania, between 1991 and 1994, plot caritas, executed by the company ‘Caritas’ in Cluj-Napoca, held by Ioan Stoica pledged leading Chinese companies eight times the money invested in six months. This attracted 400,000 depositors around the country who invested 1 trillion 257 billion lei (about one billion dollars) to go bankrupt before the August 14, 1994, with debts of 450 million). recently having graduated from the University of Pennsylvania

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