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Ponzi Schemes

Ponzi schemes are a type of pyramid scheme named for Charles Ponzi, who defrauded thousands investors during the 1920s. Typically, Ponzi schemes work because the investors are promised very high yields on their investments. Some early investors are paid off with capital invested by new investors, making the scheme appear legitimate, until the pyramid collapses when too many investors try to cash-out their investments. To avoid becoming a victim of this and other financial scams remember that if it’s too good to be true, it probably is!

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