“In a Ponzi scheme, a promoter pays back his initial investors with money he has raised from new investors. Eventually, the promoter can no longer find enough new investors to pay off the people who have already put up money, and the scheme collapses.”

American writer and former New York Times reporter

Alex Norman Berenson is an American writer and former reporter for The New York Times. He is known for his thriller novels and for his book on corporate financial filings. His 2019 book, Tell Your Children: The Truth About Marijuana, Mental Illness and Violence, drew sharp criticism and provoked controversy. The response from many in the scientific and medical communities was strongly negative, and that debate remains a defining part of his public profile.