Question Details

	Username: LuckyMan Rating: Asked to: Jun Wang Date Created: 25 Jul 2017
Category	28
Tag	Financial
Question	What is a 'Ponzi Scheme'?

Advice from Guru

Hello LuckyMan,

A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors. This is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers. For both Ponzi schemes and pyramid schemes, eventually there isn't enough money to go around, and the schemes unravel.

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