For a few brief months during 1920, Charles Ponzi dazzled investors in Boston with an investment scheme that promised unheard-of returns. No one, of course, realized that all he was doing was simply paying old investors money derived from new investors. Instead of actually putting the cash to work, investors were unwittingly getting their own money returned to…
Bruce Livesey
Bruce Livesey is a Toronto-based investigative journalist and author of Thieves of Bay Street: How Banks, Brokerages and the Wealthy Steal Billions a Year from Canadians, published by Random House in 2012.