In 1919 there was a person named Charles Ponzi who lived in England and we can say that he was the father of ponzi scheme. At that time in England, Banks provided Rate of Interest (ROI) of 5% only but Mr. Charles Ponzi provided 40% to 50% return to the people. He said to people that he is investing the the money in various scheme through which he gets high return. Within 2 years he made millions of money by this scheme and he was also caught and imprisoned in just one year for the money fraud.
In modern time we can say that, Ponzi scheme hero is Akshay Kumar of Phir Hera Pheri Raju Bhai.
“Bole to 25 din mein paisa double” this is the most iconic scene of bollywood movie.
Anyone comes to you and says that they will provide a higher return than a bank and innocent people easily come to these traps. Because its human tendency to get paid more for their money. In realty all such schemes are totally fraud. We can’t say that people are greedy. They are greedy because they wants to do something for their family and it is not wrong.
The person who comes to you is called schemer and take your money and provide you a good return for the first few months. After this they will ask you to join 2 more person under you and give them same scheme and get more money. Now this chain repeats with the new person and they also starts referring their friends and relative to arrange more money. Ultimately all the money goes directly to the schemer.
In starting everyone gets money and they continue do add more people under them. Now here chain reaction starts and you will see a blast of money within a short period of time. At one time schemer have some issue to provide money to their downline because the no of quantity is more than their calculation but at this time he has money in billions in his account.
The next most important step of schemer is to get out from the country. He will enjoy his life in luxury but in actually he is a criminal of innocent people of country. He robbed money which was hard earned by these people.
Anubhav Mittal’s Social Trade is the best example of Ponzi scheme which makes 3700 crore fraud. Mr Mittal is a BTech graduate and also the master mind of all planning.
Shyam always says “Golmaal hai bhai sab golmaal hai”….
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