Joseph gamsky billionaire boys club

Ponzi scheme

This article is about the investing and social club run as a Ponzi scheme. For other uses, see Billionaire Boys Club (disambiguation).

The Billionaire Boys Club, or BBC, was an investing and social club organized by Joseph Henry Hunt (born Joseph Henry Gamsky)^[1] in Southern California between 1983 and 1989.

It was originally simply named "BBC", the initials of Bombay Bicycle Club, a restaurant Hunt had frequented as a young man in Chicago.^[2] The get-rich-quick schemes the group offered to clients added up to what was essentially one big Ponzi scheme.^[3]

The club enticed the sons of wealthy families from the Harvard School for Boys (now Harvard-Westlake School; not affiliated with Harvard University) in the Los Angeles area with get-rich-quick schemes.

Due to the reputation of the organization for being composed of young, inexperienced men from moneyed families, it was jokingly referred to as the "Billionair