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The Saucetown Investor Podcast

The Saucetown Investor Podcast

Double Your Money in 90 Days? The Lie That Built a Fortune

Sep 24, 2026 · 24 min · 9 segments

In 1920, Charles Ponzi defrauded thousands by promising to double their money in 90 days. We analyze how this massive fraud collapsed. Most investors believe a business model needs to generate…

In 1920, Charles Ponzi defrauded thousands by promising to double their money in 90 days. We analyze how this massive fraud collapsed. Most investors believe a business model needs to generate actual profit to survive, but the history of Ponzi scheme operations proves otherwise. By focusing on rapid returns rather than underlying value, the originator created a financial illusion that lasted for months before the inevitable exposure. We examine the newspaper headlines from the era that captured his confession and desperate pleas. Understanding the mechanics of investment fraud from a century ago remains the best way to spot modern...

In 1920, Charles Ponzi defrauded thousands by promising to double their money in 90 days. We analyze how this massive fraud collapsed. Most investors believe a business model needs to generate…

Spotify Website

Speakers: Matt CoxHost

Top entities: Charles Ponzi×25 Sarah Howe×6 Bernie Madoff×14 Ponzi scheme×2 Matthew Cox×4

Show signals: SuitabilitySafeBiasNot politicalAudience≈341 followers

Charles Ponzi and His Predecessors2:07 – 7:27

2:07

So Charles Ponzi, despite the scheme being named after him, he was not the first person to run this kind of fraud.

2:14

And we'll come back to that here in a second.

2:16

But he's the one who's named stuck.

2:18

I don't know if it's kind of a catchy name.

2:20

Maybe that has something to do with it.

2:22

But understanding exactly what he did is the quickest way to understand the entire concept.

2:28

So in 1919, Ponzi, he's a struggling Boston businessman who's already failed at a couple of ventures.

2:35

And in fact, he had previously served time for forgery and for smuggling immigrants.

2:42

And there's a lesson there, guys.

2:43

Run your background checks on people.

2:45

Before you invest with them, I actually know a guy.

2:48

I don't know him personally.

2:50

I know people who invested with him.

2:53

He's out of Florida.

2:54

He took off with 25 million of investor money and he left the country.

2:58

No one knows where he is.

2:59

People think he might be in South Africa.

3:02

If anyone had bothered to run a background check on him, they would have seen that he had multiple fraud related charges a decade before.

3:11

And Ponzi was no different.

3:12

But today we have more access.

3:15

We have more use of technology to be able to run diligence on people.

3:18

So back to Ponzi.

3:20

He stumbled across something called an international reply coupon.

3:25

And what this is, is it's a piece of prepaid postage that allows someone in one country to include a return postage for a reply from another country.

3:37

It's like I'm sending you a letter across the Atlantic Ocean to my friend in London, and it's like a good gesture.

Charles PonziPersonItalian con artist
98%25 mentions
Sarah HowePersonFortune teller
95%6 mentions
Bernie MadoffPersonAmerican financier and con artist
91%14 mentions
Ponzi schemeEntity
88%2 mentions
Matthew CoxPersonAmerican broker
84%4 mentions
BitconnectEntity
81%4 mentions
InstagramSoftware ApplicationSocial networking service
76%2 mentions
LinkedInSoftware ApplicationSocial networking service
76%2 mentions
Taylor SwiftPersonAmerican singer-songwriter
71%3 mentions
John Kenneth GalbraithPersonCanadian-American economist and diplomat
67%2 mentions
BostonCityCity in Massachusetts
64%3 mentions
World War IEventWar
60%1 mention
United StatesCountryCountry in North America
57%2 mentions
AppleCompanyTechnology company
53%1 mention
ItalyCountryCountry in Europe
50%2 mentions
FloridaAdministrative AreaUS state
47%1 mention
South AfricaCountryCountry in Southern Africa
43%1 mention
Atlantic OceanBody of WaterOcean
38%1 mention
LondonCityCapital of England
38%1 mention
BrazilCountryCountry in South America
33%1 mention
Jewish peopleEntityAdherents
29%2 mentions
Palm BeachCityTown in Florida
26%1 mention
Super BowlEntityChampionship
22%1 mention
Kevin O'LearyPersonCanadian businessman and TV personality
19%1 mention
AmwayCompanyMulti-level marketing company
16%1 mention
BitcoinEntityCryptocurrency
12%1 mention
Enron: The Smartest Guys in the RoomMovie2005 film
9%1 mention
EnronCompanyCompany
5%2 mentions
United States Securities and Exchange CommissionGovernment OrganizationGovernment agency
2%1 mention

Society
Financial FraudFinance
Unsustainable Return StructuresFinance > Investing > Investment Returns
New-Investor-Funded Payouts and Exponential GrowthFinance > Investing > Investment Returns > Unsustainable Return Structures
Fraud DetectionCrime > White-Collar Crime
Investment Fraud Red FlagsCrime > White-Collar Crime > Fraud Detection
Affinity FraudSociety > Social Networks
Trust-Based Investor RecruitmentSociety > Social Networks > Affinity Fraud
Crypto Financial FraudTechnology > Cryptocurrency
Crypto Ponzi SchemesTechnology > Cryptocurrency > Crypto Financial Fraud
White-Collar CrimeCrime
Investment ReturnsFinance > Investing
Social NetworksSociety
InvestingFinance
Investment FraudFinance > Financial Fraud
Technology
Crime
Finance
CryptocurrencyTechnology
Ponzi SchemesFinance > Financial Fraud > Investment Fraud

Charles Ponzi and His Predecessors2:07 – 7:27

2:07

So Charles Ponzi, despite the scheme being named after him, he was not the first person to run this kind of fraud.

2:14

And we'll come back to that here in a second.

2:16

But he's the one who's named stuck.

2:18

I don't know if it's kind of a catchy name.

2:20

Maybe that has something to do with it.

2:22

But understanding exactly what he did is the quickest way to understand the entire concept.

2:28

So in 1919, Ponzi, he's a struggling Boston businessman who's already failed at a couple of ventures.

2:35

And in fact, he had previously served time for forgery and for smuggling immigrants.

2:42

And there's a lesson there, guys.

2:43

Run your background checks on people.

2:45

Before you invest with them, I actually know a guy.

2:48

I don't know him personally.

2:50

I know people who invested with him.

2:53

He's out of Florida.

2:54

He took off with 25 million of investor money and he left the country.

2:58

No one knows where he is.

2:59

People think he might be in South Africa.

3:02

If anyone had bothered to run a background check on him, they would have seen that he had multiple fraud related charges a decade before.

3:11

And Ponzi was no different.

3:12

But today we have more access.

3:15

We have more use of technology to be able to run diligence on people.

3:18

So back to Ponzi.

3:20

He stumbled across something called an international reply coupon.

3:25

And what this is, is it's a piece of prepaid postage that allows someone in one country to include a return postage for a reply from another country.

3:37

It's like I'm sending you a letter across the Atlantic Ocean to my friend in London, and it's like a good gesture.

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