Charles Ponzi was an Italian swindler who became notorious for his eponymous Ponzi scheme, a fraudulent investment operation that promised high returns with little risk. Ponzi's scheme, which involved paying early investors with money from new investors, attracted widespread attention and garnered millions of dollars before collapsing in 1920. Ponzi was convicted of mail fraud and served time in prison, but he continued to engage in fraudulent activities after his release. He died in Brazil in 1949, destitute and alone.
