Ponzi scheme
PRONUNCIATION: (PON-zee skeem)
http://wordsmith.org/words/Ponzi_scheme.mp3
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ETYMOLOGY: After Charles Ponzi (1882-1949), a speculator who organized such a scheme during 1919-1920. He was neither the first nor the last person to float this or a similar scheme, just someone who did it on a massive scale. See the list of Ponzi schemes in history. Earliest documented use: 1920.
USAGE: “In China efforts to educate the unwary extend to the streets. Walls are daubed with murals illustrating the dangers of Ponzi schemes.” – Stoneless Rivers; The Economist (London, UK); Jan 5, 2013.