Reply to post: Re: How is it possible

Colorado cryptocoin execs spark up blunt '$722m ponzi scheme' criminal charges after investments go up in smoke

Michael Wojcik Silver badge

Re: How is it possible

And Ponzi quite possibly didn't even know he was running a con. Per Bulgatz's book, he seems to have been poorly educated and innumerate, and did essentially no bookkeeping - he just let the cash pile up in his office, and would basically grab some when someone wanted to cash out. It was the "advisors" who joined him when his scheme (which involved international postal coupons) became popular who understood what was going on, and profited from it.

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