Ponzi scheme
Concise Oxford English Dictionary © 2008 Oxford University Press:
Ponzi scheme /ˈpɒnzi/
▶noun a form of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.
– origin named after Charles Ponzi, who carried out such a fraud (1919–20).
'Ponzi scheme' also found in these Oxford entries:
