In Ponzi We Trust

Borrowing from Peter to pay Paul is a scheme made famous by Charles Ponzi. Who was this crook whose name graces this scam?

Mug shots of Charles Ponzi, Boston financial wizard, taken during his arrest for forgery under the name of Charles Bianchi. (Bettmann / Corbis)
Smithsonian Magazine | Subscribe

(Continued from page 5)

Mary Darby, a freelance writer in Washington, D.C., invests in mutual funds, and hopes not to lose her shirt.


Comment on this Story

comments powered by Disqus