from The American Heritage® Dictionary of the English Language, 4th Edition
- n. An investment swindle in which high profits are promised from fictitious sources and early investors are paid off with funds raised from later ones.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. A Ponzi scam.
After Charles Ponzi (1882?-1949), Italian-born speculator who organized such a scheme (1919-1920).(American Heritage® Dictionary of the English Language, Fourth Edition)
From Charles Ponzi, who famously conducted a pyramid scheme in North America in the early twentieth century. (Wiktionary)