Famous folks from Lexington
Charles Ponzi, one of the most brazen con men in history, grew a twisted money tree, with its roots in Boston.
In 1920, he bilked thousands of people out of millions of dollars by selling them bonds that guaranteed a fabulous rate of return - 100 percent in just 90 days. The funds entrusted to Ponzi were never invested in legitimate enterprises. Instead, they were deployed in a classic pyramid scam.
It collapsed within months. Ponzi went to prison, and his victims lost most of their money. His name has joined the everyday lexicon to describe financial skulduggery.