In the history of the United States, there was a fraud case in which a bank cheated money in the name of high interest rate and then closed down. What is the name of fraud?

Ponzi scheme, later known as Ponzi scheme. It means using the money of the later "investor" to repay the former "investor", which means robbing Peter to pay Paul.

Ponzi scheme is the name of investment fraud in the financial field, the originator of pyramid schemes, and is used by many illegal pyramid schemes to collect money. This scam was invented by a speculator named Charles Ponzi. Ponzi scheme is also called "robbing Peter to pay Paul" and "empty gloves and white wolves" in China. In short, it is to use the money of new investors to pay interest and short-term returns to old investors, so as to create the illusion of making money and then defraud more investment.

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. Then, Ponzi successfully attracted 30,000 investors within seven months because of the generous returns of 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".