The Pulitzer Prize Playhouse

Season 1 Episode 10

The Ponzi Story

0
Aired Friday 9:00 PM Dec 08, 1950 on ABC

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    • The "Ponzi scheme" bilks thousands of Bostonians out of their savings. Italian-born "financial wizard" Charles Ponzi, 38, offers a 50-percent return on investment in 45 days, 100 percent in 90 days, and by late July his Securities and Exchange Co. at 27 School Street is taking in hundreds of thousands of dollars per day. Ponzi says he has found that a 1¢ reply coupon issued in Spain as a convenience by international postal agreement is exchangeable at any U.S. post office for a 6¢ stamp and that he has agents buying up millions of coupons throughout Europe and is making a 5¢ profit on each.

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