Charles Ponzi offered a high rate of return on international trade investments. All of the following statements are TRUE about this scheme EXCEPT
A) Ponzi simply paid off old investors with money provided by new investors.
B) Ponzi served a 10-year sentence in a Massachusetts prison.
C) Ponzi played on the greed of others.
D) Ponzi's name became the term to describe fraud of this type.
Answer: B
You might also like to view...
Why did black leaders protest in front of the South African embassy in Washington D.C. in 1984?
A) They were angry about South Africa's boycott of the 1984 Summer Olympics. B) They were proud of South African's election of Nelson Mandela as president. C) They were attempting to stop South Africa from oppressing black political prisoners. D) They wanted the South African government to pay reparations for slavery.
What was a key contributory factor to the migration of Europeans in the 1800s?
A. better transportation systems outside of Europe B. the emancipation of peasants C. the increased cost of land in Europe D. lower wages in Europe than elsewhere
What was the Shimabara uprising?
A) Christians who refused to renounce their religion were crushed by the Tokugawa and Dutch. B) The Portuguese attempted to maintain their presence in Japan for commercial interests. C) It was a Buddhist rebellion. D) A rival shogun attempted to seize control of the government. E) It was a revival of Christianity.
The bombing of Cambodia in 1970 by the Nixon administration led to riots at many universities and deaths at two:
a. Kent State, Ohio, and Fullerton State, California. b. Fullerton State and Jackson State, Mississippi. c. Kent State and Jackson State. d. Kent State and Sump State, Florida. e. Kent State and Michigan State.