In January 1920, an Italian American businessman in Boston started a new company.

In order to raise money, he took $100 investments from 18 people and offered them a fabulous return on their money in only 45 days. And he delivered on his promise. Soon people

were lining up to give them their money, and everything worked great. Until it didn't.

Learn more about Charles Ponzi, the man whose name is synonymous with fraud, on this episode of Everything Everywhere Daily. With Lloyd's bank ready-made investments you choose a risk level that feels right for you, from cautious to

progressive, then you leave it to experts to manage the funds, so you can invest your money

without investing your time.

You can apply and manage online with internet banking

or by using the Lloyds Bank mobile app.

To get your money moving, search Lloyds Bank ready-made investments.

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Charles Ponzi was born Car Pietro Giovanni Gulemelo Tabaldo Ponzi in the town of Lugo Italy in 1882.

He was born to a family which had been quite wealthy but had fallen on hard times. He was

accepted to school at the University of Rome La Sapienza but he spent most of his

time drinking and partying and wound up broken without a degree. In the first years of the 20th century

waves of Italians were immigrating to the United States and some of them were

returning back to Italy very wealthy. Ponzi was encouraged by his family to do the

same.

So in 1903, he set out for America.

And he arrived in Boston on November 15th,

with only $2.50.

Because he gambled away the rest of his life savings

...