100 years of scamming people

Mexico City

Certainly on some occasions a family member or a friend has offered you to enter into a business in which you can earn a lot of money, if yes then you should read this before accepting.

Perhaps you are not familiar with the pyramid scams or the gurus who offer a lot of money for a small investment, because believe it or not, this method is not new, Over 100 years ago someone decided to do something like this, was called Ponzi scheme.

In an open or closed pyramid business, participants expect a return on their invested money with profits ranging from 150% to 300%, just in a simple pyramid scheme. Nowadays, multi-level sales are also within this type of scam and It’s relatively easy to get to know themOn the other hand, it wasn’t that simple 100 years ago.

Carlo Ponzi He was an Italian who immigrated to the United States in 1903, started working as a peddler and later provided business guides, but his life would change when he realized he could do business using the vouchers sent by the families of Italian immigrants to the United States. European Union.

The next thing he did was to found his own company, the Securities Company, with the following premise: He claimed that by simply buying postage coupons in other countries, and “liquidating” them in the US at their face value, investors would receive a 50% dividend. On the money they contributed in just 45 days, or 100% after 90 days.

The business was so profitable that in a short time he became a recognized businessman in the United States. Initially, the benefits were paid on the dates pledged, which gave confidence to more people to get into a Ponzi scheme, to the point of putting their savings into the work.

It wasn’t until a financial analyst in the Boston Post published a report on Carlo Ponzi’s scheme that, in the end, he didn’t even have 1% of the money he needed to pay investors.

The fraud of the Italian with the money of hundreds of investors was soon proven and that they would take him to prison and later be expelled from the country.

As you can see, the pyramid scam is not new, but it happens all over the world and people keep falling.

*** MJPR ***

Leave a Reply

Your email address will not be published.