The original Ponzi scheme collapsed in under eight months
In 1920, Charles Ponzi promised Boston investors 50% profit in 45 days, claiming he could arbitrage international postal reply coupons. He was really just paying old investors with new investors' money. The scheme collapsed within eight months -- though nearly identical frauds had already been run by others before him.
— Charles Ponzi, Ponzi scheme (historical fraud case) — Boston, 1920