Homonym: Charles Ponzi (Scam)
Charles Ponzi was an Italian con artist who became famous for his fraudulent investment scheme in the early 20th century. He promised investors high returns on their money by exploiting international postal reply coupons. Ponzi's scheme attracted many people, leading to significant financial gains for him, but it was ultimately unsustainable.
The term "Ponzi scheme" is now used to describe similar scams where returns to earlier investors are paid using the capital from newer investors, rather than from profit. Ponzi's actions led to his arrest in 1920, and he became a symbol of financial fraud in the United States.