📚 noun • entry_id 5923
Ponzi scheme
Meanings (ES + gloss)
esquema Ponzi • estafa Ponzi
A fraudulent scheme where earlier investors are paid with the money taken from new investors, giving the impression that the scheme is a viable investment.
Bernard L. Madoff, the one-time senior statesman of Wall Street who in 2008 became the human face of an era of financial misdeeds and missteps for running the largest and possibly…
Now, a long-running Ponzi scheme requires a narrative — and the narrative is where crypto really excels.
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