Exposing Charles Ponzi

This Indicator podcast episode recounts the untold story of Simon Swig, a Jewish immigrant who founded the Tremont Trust Company ("Swig's Bank") in Boston and became a political reformer. The episode details how Swig unknowingly facilitated Charles Ponzi's infamous scheme, later exposing it and suffering a bank run orchestrated by rival bankers. Despite his efforts to help expose the first major financial fraud of the modern era, Swig's bank was ultimately shut down, and he died in relative obscurity. The episode concludes by highlighting Swig's legacy of "tikkun olam" (repairing the world), exemplified by an anecdote about his son's kindness to Ella Fitzgerald. This illustrates the contrast between Swig's public downfall and his enduring family values.