Wednesday, June 30, 2010
rateitall.com,
rateitall.com,
Dona Branca, the People’s Banker
Maria Branca dos Santos, or more commonly called "Dona" Branca, was a poor Portuguese woman when she decided that she would open her own "bank" in 1970.
To make it attractive, she promised an interest rate of 10% per month, and got thousands of clients (including the working poor of Portugal) to give her their money. The scheme lasted more than 14 years, and during this time she's known as "The people's banker." Dona Branca was arrested and sentenced to 10 years in prison
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Posted by Tracey on 06/30/10 at 02:35 PM •
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