Charles Ponzi was an infamous Italian-born swindler whose name became synonymous with the "Ponzi scheme," a fraudulent investment scam promising high returns with little risk. Arriving in the United States with only $2.50 in his pocket, Ponzi duped thousands of investors in the 1920s, amassing millions of dollars through his fraudulent postal coupon scheme. His scheme eventually collapsed, leading to his arrest and imprisonment, and he spent the last years of his life in poverty.