S7E5 - The Original Con: How Charles Ponzi Invented Modern Fraud - Part 5: A Name That Lasted

After the collapse came the courtroom, and in the courtroom the story changed shape. Charles Ponzi was no longer the man on School Street promising extraordinary returns. He was a defendant in federal court in Boston.In November nineteen twenty, according to contemporaneous reporting and later legal histories, Ponzi pleaded guilty in federal court and was sentenced to prison. That mattered because the case did not need a new language to describe what had happened. The legal system only had to strip away the performance and show the money flow.Learn more at: https://thefraudarchive.com/fraud/charles-ponzi

The...