The Actual Originator of the Ponzi Scheme

Years before Charles Ponzi, there was a single female fortune teller teaming up with some imaginary Quakers to execute the same scheme.

Sarah Howe was born sometime between 1820 and 1827 - there are no surviving photos or sketches of her, but what does remain are rumors. Sarah was basically running a Ponzi Scheme - even though it wasn’t called that because Charles Ponzi wouldn’t even be born for a couple more years.. Sarah ended up being convicted on multiple counts of fraud and served three years in prison, but not before getting vilified in the press.