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Integrity Moments - Jan. 13, 2010

  • 2010 Jan 13


The Ponzi Originator 
by Rick Boxx
January 13, 2010

The Ponzi Scheme was named for an Italian illegal immigrant to America named Charles Ponzi. He duped victims out of millions ninety years ago by selling them a bogus investment with grand promises. He paid those promises from other people's investment, perpetuating the fraud for years.

His lack of concern for his victims seems evident from a quote in an interview near the end of his life. He said, "Without malice aforethought I had given them the best show that was ever staged in their territory since the landing of the Pilgrims! It was easily worth fifteen million bucks to watch me put the thing over." 

Proverbs 14:9 teaches, "Fools mock at making amends for sin, but goodwill is found among the upright." 

Avoid doing business with those who refuse to make amends.

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