I'll never understand this. Seemingly, in modern lingo, ponzi scheme means "any unethical thing relating to investments". People will argue to death that any scam investment is a Ponzi even when they have nothing to do with the original definition

My understanding was he was offering 20% returns on investments and it seems it was paid for by new money coming in propping up the currency despite the dilution caused by interest payments. That sounded like a Ponzi scheme to me.