FRAUD: Charles Ponzi

In 1920, Italian-born Boston promoter Charles Ponzi collected millions from investors by promising 50 percent returns in 90 days, backed by a postal coupon arbitrage scheme that was mathematically impossible at the scale he claimed. The Securities Exchange Company collapsed in August 1920, leaving an estimated 15 million dollars in investor losses and a full list of individual investors that has never been officially published or reconciled. The exact total of what was lost, and what Ponzi personally retained, remains disputed more than a century later. To listen to this podcast ad-free and access premium episodes, try our subscription with a 14-day free trial at obomedia.com. © 2026 OBOMEDIA. All rights reserved. This episode and its content (audio, text, and related materials) are the exclusive property of OBOMEDIA and are protected by applicable copyright laws. Reproduction, distribution, editing, or commercial use, in whole or in part, without prior written permission from OBOMEDIA is prohibited. For permissions, licensing, and business inquiries: [email protected]. This episode includes AI-generated content.