Adele Spitzeder, born into operatic royalty, washed up when she tried a career on the stage: so instead, she started accepting bank deposits for 10% monthly interest, and paying old customers with new customers' money. In three years, she amassed deposits of 38 million Gulden, or the equivalent of more than 500,000,000 euros: the world’s first Ponzi scheme. Attempts to squirrel away some money by smuggling it with her girlfriend went about as well as expected.
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Adele Spitzeder, born into operatic royalty, washed up when she tried a career on the stage: so instead, she started accepting bank deposits for 10% monthly interest, and paying old customers with new customers' money. In three years, she amassed deposits of 38 million Gulden, or the equivalent of more than 500,000,000 euros: the world’s first Ponzi scheme. Attempts to squirrel away some money by smuggling it with her girlfriend went about as well as expected.
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