Perpetrator
Charles Ponzi
- Born
- 3 March 1882
- Died
- 18 January 1949, aged about 67
- Record
- Wikidata Q360145 · Wikipedia
Perpetrator in The Ponzi Scheme
Born Carlo Ponzi in Lugo, Italy; founder of the Securities Exchange Company; convicted of federal mail fraud and Massachusetts larceny, deported to Italy in 1934.
1920 · School Street, Boston, Massachusetts · Convicted
Boston, 1920: an Italian immigrant promised 50% in 45 days on postage coupons. Eight months later his name was a byword for fraud. Read the case.
Dated events
Carlo Ponzi is born in Lugo, Emilia-Romagna.
Ponzi arrives in Boston aboard the SS Vancouver.
In a School Street office, Ponzi notices the price gap in international reply coupons.
Former publicist William McMasters declares Ponzi insolvent in the Post.
The Post exposes Ponzi's Montreal forgery conviction, and the state seizes Hanover Trust.
Ponzi surrenders to federal authorities and is charged with mail fraud.
Ponzi pleads guilty to one count of mail fraud and is sentenced to five years.
The Supreme Court rules in Ponzi v. Fessenden that Massachusetts may try him on state charges.
Ponzi is deported to Italy after his release.