He was arrested for running a Ponzi scheme that deceived hundreds of people.
Он был арестован за управление схемой Понци, которая обманула сотни людей.
Definitions
This phrase refers to a person who is operating a fraudulent investment scheme in which returns to earlier investors are paid using the capital of newer investors, rather than from profit earned by the operation of a legitimate business. Such schemes eventually collapse when there are not enough new investors to pay returns to earlier participants.
