Which of the following statements best defines a Ponzi scheme?
It is an entry in the books of a bank or corporation designed to represent funds that do not exist.
It is the misappropriation of trust funds or money held in fiduciary capacity.
It is a designed misrepresentation of existing facts or conditions by which a person obtains another's money or goods, such as
the writing of a worthless check.
It is an investment swindle in which high profits are promised from fictitious sources and early investors are paid off with funds
raised from later ones.
