🔥FUN FACTS: 🤔

🚩The story of Charles ponzi, grandfather to ponzi schemes 💔😂

Born in Italy 1882 , Charles migrated to America, dream ikiwa ni kuomoka na kuchange social status 🤔😁 the guy was charismatic and cunning , akikuchapia story utaipenda 🚩😂

To con people Charles needed a plan to create an illusion of profitability ndio watu wainvest kwa biz yake 🤔, the year is 1920 the internet wasn't realized yet so most of the communication were done through letters and postal services and there Charles saw an opportunity 💯, he claimed to have discovered a way to profit from international reply coupons, exploiting differences in exchange rates🚩 since the reply business was booming at the time no one cared to look hard enough for the red flags 🚩 and Charles got the masses where he needed them 😂💔

He promised investors incredible returns in a short period, luring them inn with the allure of quick riches , and people believe him💔😂 while everyone thought Charles was involved in a legit business his real strategy was to pay old investors with the new investors money 🤑

Provided everyone didn't want their money at once the scheme was working, everyone was satisfied and ponzi became wealthy (dream yake ya kuomoka was realized) 😂

Ponzi's scheme ilirun for almost a year, and ofcourse now that hakuna new investors to keep the money flowing the scheme collapsed , Charles was convicted and jailed for the crime , but the investors suffered a massive lose on their investment 💔

So there you have it guys the story of the man who's ponzi schemes are named after 💔

Key notes on the story:

💡When something is promising a huge return with little to no risk take care maybe it is a ponzi scheme 🚩,

💡 before making a financial decision do your own research don't follow the masses,

💡 Don't fall for the get rich quick schemes there is price to pay for every income you get , being successful is never an easy process