Chances are you've probably heard the term "Ponzi Scheme" to describe something as a scam. You can thank Mr. Charles Ponzi for this. Ponzi "landed in this country with $2.50 in cash and $1 million in hopes,and those hopes never left me".
Ponzi's scheme involved selling international reply coupons,which were coupons that can be exchanged for a number of postage stamps from another country. He would buy stamps and sell them to his "agents" in other countries where they were worth more.
"...landed in this country with $2.50 in cash and $1 million in hopes,and those hopes never left me"
Ponzi began to reel in investors to make an even bigger profit. He promised investors returns of 50-100% within 90 days. However he paid his "investors" with other investors money,instead of paying them with the actual profit. In other other words he kept all profit and investors were paid with other investor's money.
The Boston Post ran an investigation and soon he was arrested on 86 counts of mail fraud and owed $7 million. Long story short....he was caught finnesin'. We're all trying to make moves somehow someway, were all scheming in our own ways. Whether it be moral or immoral we are all trying to chase a bag. With that being said the Second 2 None LMTD. Scheme Team was born.
Written By: Marcus Hinojos