Author: Charles River Editors
Narrator: Bill Hare
Unabridged: 1 hr 13 min
Format: Digital Audiobook
Publisher: Findaway Voices
Published: 09/05/2019
Though few people are familiar with the story of his life, Charles Ponzi’s name is almost instantly recognizable thanks to the famous financial scandal named after him. This is somewhat ironic because, while his last name has become synonymous with financial scandal and many recognize how a Ponzi scheme works, some have argued that Ponzi really did not know what he was doing while it was taking place. When reading many of the books and articles written about him, it does seem as though Ponzi believed he would be able to pay back his investors at one point or another.
In fact, the scheme that Ponzi created was not a new one – it was historically known as “robbing Peter to pay Paul” - but Ponzi became famous for it because he was able to create a scam in this way on a massive scale. When he was finally caught, it led to the investigation and collapse of several estates and banks, and Massachusetts subsequently found itself in a banking crisis. Moreover, one of the most interesting aspects of the affair is that people from many different social backgrounds and classes were affected by Ponzi’s scandal. He took money from teenagers who had savings as low as $20, and he also took millions from New York City’s elite.
Ponzi’s scheme involved scamming investors by promising them a bigger return on their investments than was actually possible. Every investor’s money would just be put into a large pool to pay back past investors, and while Ponzi was hardly the first person to engage in such a scheme, the 1920s were ripe for this kind of financial conning. The Roaring Twenties became famous for frivolity, flappers, and Prohibition. Famously depicted in F. Scott Fitzgerald’s The Great Gatsby, life after World War I in America was a time of great spending, and people believed that it as possible for them to make great fortunes, no matter what their social background was.
November 1, 1932 was a fine autumn day in the sleepy, cotton-farming city of Sallisaw, Oklahoma, the heart of Sequoyah County. The blinding rays of the midday sun were shining their brightest, but the otherwise blistering heat was offset by a brisk...
Arguably the largest and most successful criminal enterprise in history, at times the Medellin drug cartel was smuggling 15 tons of cocaine a day, worth more than half a billion dollars, into the United States. Roberto Escobar knows - he was the ac...
The Media ran exaggerated accounts of his bravado and colorful personality, styling him as a Robin Hood figure. In response, J. Edgar Hoover, then director of the Bureau of Investigation (BOI), used Dillinger and his gang as his campaign platform to...
Pablo Escobar Murderer, philanthropist, drug dealer, politician, devil, saint: many words have been used to describe Pablo Escobar, but one is irrefutable - legend. For the poor of Colombia, he was their Robin Hood, a man whose greatness lay not in ...
'These tales of eleven trials are shocking, squalid, titillating and illuminating: each of them says something fascinating about how our society once was' The TimesCourt Number One of the Old Bailey is the most famous court room in the world, and t...
In partnership with Texas Monthly, Michael Hall's "The Trouble with Innocence" is now available as an audio download, where the length and timeliness of a podcast meets the high-quality production of a full-length audio program.In 1978, a Texas jury...
When Chris Bryson was discovered nude and severely beaten stumbling down Charlotte Street in Kansas City in 1988, Police had no idea they were about to discover the den of one of the most sadistic American serial killers in recent history. This is t...
Sprightly swing music spills across the dimly lit club. The grayish curtains of cigarette smoke part every once in a while to reveal a sparkling stage and tables upon tables of patrons, some incurably inebriated and others high on the fast-paced nig...
"This horror story made international headlines. It shows brutality in its most extreme form, a wilful act of cruel injustice for which the Libyan government stands accused. Reading this book will make you cry." Dries Brunt, "Citizen Newspaper", Sou...