A kind of pyramid scheme fraud, what is it called?

Charles Ponzi was an Italian-born speculator who lived in the 20th century. 1903 immigrated to the United States. 19 19, he began to plan a conspiracy to deceive people into investing in a non-existent enterprise, promising investors a 40% profit return within three months. 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 people called it "Ponzi scheme".

In Chinese, it means "robbing Peter to pay Paul"