Quote:
Originally Posted by gostatego
The Ponzi scheme was sell action to tourneys. Not sure if it was more or less than 100%, mostly to his close friends. As long as he didn't have a big score, he would ask to roll it over to the next stop. He would take money for new pieces and pay the people who insisted on being paid from previous action. Too many people wanted their money from the main event cash so the Ponzi scheme was over.
This actually seems like it may fit the definition of being a Ponzi Scheme.
You get a lot of people posting "ponzi scheme", "ponzi scheme", "ponzi scheme" nowadays because the DOJ said it one time, so anytime someone does something wrong people post "ponzi scheme" even if that doesn't make any sense. It just seems like a lot of people have equated doing something wrong with being a ponzi scheme, which obviously isn't right; a ponzi scheme is a particular thing with a particular definition.
But based on the quote, this one actually does look like it. And I'll reinforce that, that is based on the facts in the post I quoted here and I do not know whether those facts are correct.