Ponzi Scheme—Saxton Case: Scammed (Enhanced DVD)

In the early 20th century, Charles Ponzi swindled an untold amount of investors out of their savings through an elaborate plan known today as a Ponzi scheme. This episode of Scammed looks at the Saxton case to find out how a Ponzi scheme works and how even experienced people can get duped.

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As one of the most famous scammers of all time, Charles Ponzi was among the first to implement the “Ponzi scheme” on a large scale, affecting countless people throughout the U.S. and Canada and defrauding them of their savings. Ponzi immigrated from Italy in the early 20th century and ran a scheme that involved promising his investors a return of 50 percent or 100 percent in 90 days or sooner. He sold them on the idea that he could purchase postal reply coupons in other countries and resell them at a higher price in the U.S. Ponzi effective convinced numerous people and cost them over $20 million dollars while running his scheme for over one year.


Many other similar types of schemes have occurred since the original Ponzi scheme, and Ponzi himself may have been influenced by another scammer from his time, William F. Miller. This episode of Scammed details the Saxton case which is a different type of Ponzi scheme. It gives an overview of the devastation that this type of fraud can cause for its victims who are lured in by the promises of monetary returns. The content is this program may be considered objectionable, so viewer discretion is advised.


Ponzi Scheme—Saxton Case: Scammed

Enhanced DVD

ISBN: 978-1-61753-816-2

Run Time: 21 Minutes

Copyright Date: 2011

CC