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noun
a swindle in which a quick return, made up of money from new investors, on an initial investment lures the victim into much bigger risks.
Also called Ponzi game, Ponzi scheme.
Origin:
after Charles Ponzi (died 1949), the organizer of such a scheme in the U.S., 1919–20
after Charles Ponzi (died 1949), the organizer of such a scheme in the U.S., 1919–20
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2012.
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Based on the Random House Dictionary, © Random House, Inc. 2012.
Cite This Source
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Ponzi
is always a great word to know.
So is flibbertigibbet. Does it mean:
| the offspring of a zebra and a donkey. |
| a chattering or flighty, light-headed person. |
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