Charles PonziBirth Chart
Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi
03/03/1882 23:15
AA - Birth record in hand
Lugo
Italy
44°25' ↑ North - 11°54' → East
00:48 East
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Photo: Reproduction
Charles Ponzi (born Carlo Ponzi) was an Italian-born financial operator and fraudster who became notorious in North America in the early 1920s. He promoted an investment scheme that promised extraordinary returns in short periods, claiming to profit from arbitrage in international postal reply coupons. In practice, he paid earlier investors with funds contributed by new participants, creating an unsustainable system that came to bear his name: the “Ponzi scheme.”
His operation ran for a little over a year before collapsing, causing estimated losses of about $20 million at the time. Ponzi had prior experience in financial institutions and in fraud — including employment at a bank in Montreal and convictions for forgery and other offenses — which shaped his persuasive ability and his management of the capital he raised.
The case became emblematic in the history of financial fraud and influenced regulation and oversight of investment offerings. Ponzi’s legacy is primarily terminological and educational: his name came to denote a specific type of scam based on paying earlier investors with later investors’ funds, warning investors and authorities about systemic risks in schemes promising extraordinary returns.
Read more about Charles Ponzi on Wikipedia
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