Notes 2.pptx - Notes 2 Reality: A Ponzi scheme is a fraud...

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Notes 2Reality: A Ponzi scheme is a fraud that lures investors and pays profits to earlier investors with funds from more recent investors.Among the first scams that meet the definition of a Ponzi scheme were those organised by Adele Spitzeder in Germany from 1869 to1872, and by Sarah Howe in the USA through the so-called “Ladies’ Deposit”, in the 1880s. The Ponzi scheme was also previouslydescribed in novels: Charles Dickens’s 1844 novel, “Martin Chuzzlewit”, and his 1857 novel, “Little Dorrit”, both describe such ascheme. In the 1920s, Charles Ponzi carried out this fraud and became notorious throughout the USA because of the huge amount ofmoney that he collected. 10. Myth: The Spanish fly is a fly. The Spanish fly was once used as an aphrodisiac. It is however not a fly, butan emerald green beetle of the species Lytta vesicatoria. 11. Myth: Many of the Salem’s witches were burned at the stake. Reality: The

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Term
Spring
Professor
NoProfessor
Tags
Salem Witch Trials, Stanford prison experiment, Ponzi scheme, Martin Chuzzlewit,

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