My favorite pre-Ponzi schemer was known as '520 Percent Miller' because he promised 10 percent returns a week, or 520 percent a year. Of course he was just using new investors' money to pay old investors, and soon he was on the lam.
Mitchell ZuckoffNathaniel Philbrick's 'In the Heart of the Sea' has rightfully taken its place as a classic for its literary merits. It has a special place in the cannibalism canon as well.
Mitchell ZuckoffBob Altman got nothing from the TV series 'M*A*S*H,' and the royalties for the theme song went to his oldest son, Michael, who wrote it as a 15-year-old poet!
Mitchell ZuckoffWhen running a Ponzi scheme, how does one avoid enormous, unexpected withdrawals - runs on the bank, so to speak - that would pull back the curtain and reveal a little man blowing smoke? One way would be to attract a core of investors who could be counted on to never withdraw more than a small percentage of principal each year.
Mitchell ZuckoffSending a book out into the world is a lot like sending your child to the first day of kindergarten. You hope the other kids play nice and that she makes friends.
Mitchell ZuckoffI was researching a different World War II story when I came across an article in the 'Chicago Tribune' from June 1945 that knocked me for a loop. The article explained that a military plane had crashed in an impossibly remote valley of New Guinea that had been nicknamed Shangri-La.
Mitchell Zuckoff