The Scam That Fooled the World — Charles Ponzi and the Original 1920 Scheme [5 min]

In 1920 Boston, Charles Ponzi collected $250,000 a day from investors who believed he'd found a legal loophole in international postal coupons. He knew from day one the scheme was mathematically impossible — he just needed people to believe it worked. The story of the con so infamous every scam since carries his name: https://youtu.be/JCqDzMpnhEc