0 a way of deceiving investors (= people who give money to a company hoping to get more back) by using the money they give to pay interest to existing customers rather than investing it --
1 a way of deceiving investors in which money that a company receives from new customers for investment is not invested for them, but is used instead to pay interest that is owed to existing customers: --
He used the investors' retirement savings to conduct a Ponzi scheme.