Ponzi schemes. How do they work? And who's Ponzi? Join Josh and Chuck in this classic episode to discover how an Italian immigrant created a classic con that's still fleecing investors today.
This episode dives into the fascinating and infuriating world of Ponzi schemes, from Charles Ponzi's original postal coupon scam in the 1920s all the way up to Bernard Madoff's massive $50 billion fraud that shocked the financial world. Josh and Chuck break down exactly how these schemes work, why they're so deceptively appealing to investors, and highlight some of the most notorious con artists throughout history, including the guy who basically funded the '90s boy band craze with stolen money. You'll learn what red flags to watch out for if you want to avoid becoming another victim, why Madoff's scam was so incredibly successful for so long, and why the SEC really should have caught him way earlier than they did.
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