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Ponzi

[pon-zee] /ˈpɒn zi/
noun
1.
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 of Ponzi
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. 2015.
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