Business Plan
In 1903, a ship full of dreamers docked in Boston. Among their number was a refugee from Lugo in northern Italy. He was cleaned out by cards sharp during the voyage, so he got here with $2.50 in his pocket. Much later, he told a newspaper, “I landed in this country with $2.50 in cash and $1 million in hopes, and those hopes never left me.” That man’s name was Charles Ponzi.
Ponzi unplugged.Bettmann//Getty Images
The ‘robbing Peter to pay Paul’ swindle that now bears his name is one of the first lessons in the syllabus for Grifter 101. And…