Upper-Intermediate 9A WB

Read the article about Ponzi schemes quickly and match the years to the people.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Question:

2009

Read the article about Ponzi schemes quickly and match the years to the people.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Question:

2008

Read the article about Ponzi schemes quickly and match the years to the people.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Question:

1920s

Read the article about Ponzi schemes quickly and match the years to the people.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Question:

1880s

Read the text again and complete it with the missing sentences. There is one extra sentence you do not need to use.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Read the text again and complete it with the missing sentences. There is one extra sentence you do not need to use.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Read the text again and complete it with the missing sentences. There is one extra sentence you do not need to use.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Read the text again and complete it with the missing sentences. There is one extra sentence you do not need to use.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Read the text again and complete it with the missing sentences. There is one extra sentence you do not need to use.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Look at the highlighted words and phrases in the text and try to work out their meaning. Then match them to definitions 1-7.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Look at the highlighted words and phrases in the text and try to work out their meaning. Then match them to definitions 1-7.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Look at the highlighted words and phrases in the text and try to work out their meaning. Then match them to definitions 1-7.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Look at the highlighted words and phrases in the text and try to work out their meaning. Then match them to definitions 1-7.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Look at the highlighted words and phrases in the text and try to work out their meaning. Then match them to definitions 1-7.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Look at the highlighted words and phrases in the text and try to work out their meaning. Then match them to definitions 1-7.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Look at the highlighted words and phrases in the text and try to work out their meaning. Then match them to definitions 1-7.

___________________________________________________________________________________________________________________________

Ponzi schemes
Want to know an easy route onto the world’s rich list? You may think it’s an impossible dream, out as Charles Ponzi reveals, all you really need is a persuasive smile and the ability to lie very, very well.
The man behind the name Charles Ponzi was an Italian immigrant living in the United States who cheated countless innocent people out of money in the 1920s. At that time, when a person wanted to send a fetter to another country, he or she (if they were feeling generous) could also send the recipient an international reply coupon. The coupon could then be used to pay for the postage of the reply. Ponzi’s idea was to buy cheap reply coupons in another country and sell them in the United States, where they were worth more. He then planned to share the profits with his investors. However, transporting and paying for the coupons caused delays and incurred extra costs, which meant he couldn’t pay back his investors as quickly as he had promised. But he didn’t tell them that. 1_______ Ponzi paid the early investors their profit with the new money that was pouring in, and kept some of it for himself. At the height of his success, he was buying and selling around 160 million reply coupons, despite only 27,000 existing worldwide. When people realised this, it was all over.2________
How does it work?
The Ponzi scheme is based on a simple principle revolving around paying old investors with money that cones in from new investors. What exactly they invest in doesn’t matter With the money from the first investors you rent a fancy office and buy a new car, which helps you to attract new investors. 3______. One person can only do so much, and sooner or later the scheme flops because there aren’t enough new investors to oay all of the old ones.
Other big schemers
Examples of the Ponzi scheme date back as far as the 1880s, and are still happening now. One of the longest- running operations was headed by Lou Pearlman, former manager of
the famous American boy bands Backstreet Boys and N*Sync. To fund promotional activity for his band roster, he convinced businesspeople to invest in other non-existent side projects 4_______ Pearlman was eventually convicted of cheating investors of over $300 million and, in 2008, was sentenced to 25 years imprisonment.
But that was nothing compared to Bernard Madcff’s $65 billion Ponzi scheme. In 2009 Madoff was sentenced to 150 years in prison after having cheated billionaires, celebrities,
and even banks and charities. 5_______ He was also helped by the fact that he was running a legitimate business at the same time. He didn’t promise ridiculously high returns, and he always gave his nvestors their money when they asked for it. Madoff’s business propositions seemed perfectly trustworthy but a lot of people lost all their money.
So for Charles Ponzi, Lou Pearlman, Bernard Madoff, and countless other Ponzi schemers, their lies eventually caught up with them. Their riches were only temporary and the price they eventually had to pay much more. Our advice? Never try to make an honest buck based on a lie. The truth always wins… eventually.

Complete the text with the correct form of a verb from the box.

Complete the sentences with the correct form of make or do.

Complete the sentences with the correct form of make or do.

Complete the sentences with the correct form of make or do.

Complete the sentences with the correct form of make or do.

Complete the sentences with the correct form of make or do.

Complete the sentences with the correct form of make or do.

Complete the sentences with the correct form of make or do.

Complete the dialogues using whatever, whichever, whoever, whenever, however, or wherever.

1. A. Do you want tea or coffee?
B. I don’t mind.____________is easiest.

Complete the dialogues using whatever, whichever, whoever, whenever, however, or wherever.

2. A What shall I buy you for your birthday?
B I don’t mind I’ll be happy with_____________you give me.

Complete the dialogues using whatever, whichever, whoever, whenever, however, or wherever.

3. A. How often does your boyfriend go to the gym?
B. He goes_____________he can.

Complete the dialogues using whatever, whichever, whoever, whenever, however, or wherever.

4. A. Can I bring my new boyfriend to your party?
B. Sure. Bring_____________you want.

Complete the dialogues using whatever, whichever, whoever, whenever, however, or wherever.

5. A. I’m not sure bow we should decorate the living room.
B. Decorate it_____________you want. You have great taste.

choose the correct answer.

1. The account manager called his client for / to arrange a meeting.

choose the correct answer.

2. The company is expanding even though / in spite of there is a recession.

choose the correct answer.

3. The firm made several people redundant in order to / so that cut costs.

choose the correct answer.

4. His secretary stayed at her desk to not / so as not to miss an important phone call.

choose the correct answer.

5. Everybody seemed to enjoy Mike’s speech at the wedding in spite of / even though his terrible jokes.

choose the correct answer.

6. The restaurant staff are happy despite / although working long hours every day.

choose the correct answer.

7. She closed the door of her office so as to / so that nobody could hear her conversation.

Complete the second sentence so that it has a similar meaning to the first sentence using the word or phrase in bold.

Complete the second sentence so that it has a similar meaning to the first sentence using the word or phrase in bold.

Complete the second sentence so that it has a similar meaning to the first sentence using the word or phrase in bold.

Complete the second sentence so that it has a similar meaning to the first sentence using the word or phrase in bold.

Listen and complete the sentences.

choose the stressed syllable on the words you wrote in a.

1. exports

choose the stressed syllable on the words you wrote in a.

2. records

choose the stressed syllable on the words you wrote in a.

3. increase

choose the stressed syllable on the words you wrote in a.

4. decrease

choose the stressed syllable on the words you wrote in a.

5. progress

choose the stressed syllable on the words you wrote in a.

6. permits

choose the stressed syllable on the words you wrote in a.

7. produces

choose the stressed syllable on the words you wrote in a.

8. refunds

Listen to a radio phone-in programme about Mr and Mrs Stacey, who found a lottery ticket and cashed it.

Listen again and correct the mistakes in the sentences.