Caritas (Ponzi Scheme)

Caritas (Ponzi Scheme)

Caritas was a Ponzi scheme in Romania that was active between April 1992 and August 1994. It attracted millions of depositors from all over the country who invested more than a trillion old lei (between one and five billion USD) before it finally went bankrupt on 14 August 1994, having a debt of 450 million U.S. dollars ($706 million in current terms).