This is not a Ponzi, I've noticed the word is often misused here on the forum. A ponzi is a long-term fraud where the first few investors are paid exorbitant returns on their investment from the money invested by subsequent investors. Often the returns are made available for withdrawal to feign legitimacy, and drum up positive reviews, to help dupe future "investors." Think of Bernie Madoff, who
made off (pun intended) with billions before being caught.
This is a flat out scam, no one is getting any payments at all, not the first "investors," not the second "investors," nobody. Only the scammer himself will get anything out of this fraud, and he'll probably be content to dupe one unsuspecting victim for $1500.
Definition of Ponzi scheme
: an investment swindle in which some early investors are paid off with money put up by later ones in order to encourage more and bigger risks
https://archive.fo/3ecmS