Noun
Ponzi scheme (plural Ponzi schemes)
A fraudulent scheme where earlier investors are paid with the money taken from new investors, giving the impression that the scheme is a viable investment.
Synonym: Ponzi scam
Coordinate term: pyramid scheme
An advancing price meant a continued infusion of investor capital on which debt-ridden Enron in large part subsisted (much like a financial "pyramid" or " Ponzi scheme "). Source: Internet
Chicago Title, which so far has denied any wrongdoing in the Champion-Cain Ponzi scheme, counters in its status report that the company continues to pursue mediation talks in still pending lawsuits, although they have yet to yield settlements. Source: Internet
As with the Ponzi scheme, the price exceeds the intrinsic value of the item, but unlike the Ponzi scheme, there is no single person misrepresenting the intrinsic value. Source: Internet
But year-earlier results reflected a charge for investments linked to what prosecutors called a Ponzi scheme at a solar company, which Berkshire did not know about. Source: Internet
In all, she calculates there were 491 investors in the Ponzi scheme, of which an estimated 349 lost a net $183 million. Source: Internet
Among JP Morgan’s other notable former clients is Bernie Madoff – the fraudster behind the biggest Ponzi scheme in history. Source: Internet