Rob Peter to pay Paul, what kind of scam does the white wolf generally refer to?

It belongs to Ponzi scheme, the name of investment fraud in the financial field and the originator of pyramid schemes.

In China, Ponzi scheme is also called "robbing Peter to pay Paul" or "white wolf with empty gloves". In short, it is to use the money of new investors to pay interest and short-term returns to old investors, thus creating the illusion of making money, and then defrauding more investment. Many illegal pyramid schemes use this trick to collect money. This scam was invented by a speculator named Charles Ponzi. Charles Ponzi, an Italian-born speculator, lived in 19 and 20th centuries and immigrated to the United States in 1903.

19 19, he began to plot. These swindlers invested in a non-existent enterprise, promising investors a 40% profit return within three months. Then, the cunning Ponzi paid the new investor's money as quick money to the original investor to induce more people to fall for it. Ponzi successfully attracted 30,000 investors within 7 months due to the rich returns of the early investors.

This conspiracy lasted for a year, and only those who were carried away by interests woke up, and later it was called "Ponzi scheme".