BROADCASTS.com

The \u2018Get Rich Quick\u2019 scheme pioneered by scamster Charles Ponzi came to an end with his arrest on 12th August, 1920 - but \u2018Ponzi schemes\u2019 remain a popular form of swindling to this day.\xa0\nAfter promising his victims he could double their money in 90 days, Ponzi was charged with 86 counts of mail-fraud - yet he may not have even initially realized his scheme was illegal.\nIn this episode, Arion, Rebecca and Olly consider whether Cryptocurrency is the modern-day Ponzi scheme; explain the difference between a Ponzi scheme and a Pyramid scheme; and reveal the ingenious way Ponzi told his Mum he was in prison\u2026\xa0\nIf you enjoyed this episode, there are FOUR BONUS MINUTES of material, cut for time from today\u2019s episode, about Ponzi\u2019s subsequent adventures in Florida and Brazil. Subscribe to our top two tiers on Patreon to receive access to this, and bonus material each and every week, plus an ad-free feed of the podcast:\nPatreon.com/Retrospectors\nFurther Reading:\n\u2022 \u2018Pyramid Schemes and Ponzi Schemes Explained in One Minute\u2019 (One Minute Economics, 2016): https://www.youtube.com/watch?v=1QkZcdCDJJg\n\u2022 \u2018How Charles Ponzi's Scheme Made Him A Millionaire Overnight\u2019 (All Thats Interesting, 2020): \u200b\u200bhttps://allthatsinteresting.com/charles-ponzi\n\u2022 \u2018The History of Ponzi Schemes Goes Deeper Than You Think\u2019 (Time, 2020): https://time.com/5877434/first-ponzi-scheme/\nWe'll be back tomorrow! Follow us wherever you get your podcasts:\xa0podfollow.com/Retrospectors\nThe Retrospectors are Olly Mann, Rebecca Messina & Arion McNicoll, with Matt Hill.\nTheme Music: Pass The Peas. Announcer: Bob Ravelli. Graphic Design: Terry Saunders. Edit Producer: Emma Corsham.\nCopyright: Rethink Audio / Olly Mann 2021.\n#20s #Crime #Person #White #US\n Hosted on Acast. See acast.com/privacy for more information.\nLearn more about your ad choices. Visit podcastchoices.com/adchoices