Ponzi-Scheme

Ponzi Scheme is known as one of best examples of breach of public trust.

Please describe what sort of principal-agent relationship exist in the Ponzi scheme, how the Ponzi scheme works, and what it does to the firm, investors, financial market/public, what SEC actions were. Please explain in detail because I have no idea what this is and I need an in depth analysis of the Pnozi-Scheme.