Episode 2 of 3

Withdrawal Limits

When
November 1872
Where
Munich
Part of
Adele Spitzeder's Ponzi scheme collapses in Munich

Spitzeder restricted withdrawals to one hour daily in November 1872 as outflows exceeded inflows.

In November 1872, withdrawals clearly exceeded investments. Spitzeder limited withdrawals to an hour between six and seven in the morning, excluding Wednesdays and Saturdays.

Sources

  1. Adele Spitzeder Wikipedia, revision of 2026-07-24

Machine-drafted from the cited Wikipedia passages and checked by a reviewing model, not by a human editor. Every passage cites the revision it was written from; dates and places follow those passages.