Meaning of “Ponzi scheme” in the English Dictionary

british dictionary

"Ponzi scheme" in Business English

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Ponzi schemenoun [ C ]

uk us also pyramid scheme

FINANCE a way of deceiving investors in which money that a company receives from new customers for investment is not invested for them, but is used instead to pay interest that is owed to existing customers:

He used the investors' retirement savings to conduct a Ponzi scheme.

(Definition of “Ponzi scheme” from the Cambridge Business English Dictionary © Cambridge University Press)