Charles Ponzi’s name will be forever associated with the financial fraud scheme he elevated to a way of life. After some minor financial crimes and brief times in jail, in early 1920 he began offering investors a 50 percent return on their money in 45 days and a 100 percent return in 90 days. Although it seemed too good to be true, the money poured in. Ponzi used money from new investors to pay prior investors and fund his lavish lifestyle. By the time his fraud was discovered in August 1920, investors had lost 20 million dollars and five banks…