(Mental Floss)-- Investigators are trying to figure out whether the financial fraud allegedly perpetrated by Bernard L. Madoff was, in fact, the largest Ponzi scheme in history. The alleged scam ...
The phrase Ponzi scheme dates back well before Bernie Madoff defrauded investors out of $65 billion. Between 1882 and 1949, Charles Ponzi, an Italian immigrant, found a loophole in currency exchanges.