He Arrived In The USA With $2 Then Stole $20 Million

In 1920, Charles Ponzi promised 50% returns in 45 days — and 40,000 people handed him their savings. By July 1920 he was collecting $1 million per day, but auditors found just $61 worth of postal coupons when his scheme required 160 million. When Ponzi was arrested on August 12, 1920, investors had lost $20 million — over $300 million in today's money — and most never recovered more than 30 cents on the dollar. The same mechanics resurfaced in Bernie Madoff's 2008 collapse, which cost investors $18 billion.🎧 Part of the Sleepy Stock Market series — financial history told as documentary audio.━━━━━━━━━━━━━━━━━━━━━━━━━━━━━SLEEPY STOCK MARKETFall asleep to the greatest stories in financial history.━━━━━━━━━━━━━━━━━━━━━━━━━━━━━#CharlesPonzi #PonziScheme #FinancialFraud #TrueHistory #BernieMadoff #1920s #FinanceHistory #Scam #WhiteCollarCrime #HistoryShorts