Brief: Tamil Nadu does a first, opens Ministry of Ponzi

Tamil Nadu did a first for the country today by announcing a new ministry to deal with Ponzi schemes in the state. The state is infamous for repeatedly falling for Ponzi schemes, starting from teak trees to recently, emus.
Sources within the cabinet say that after the announcement, there was some confusion within the MLAs of the ruling AIADMK, that the ministry was related to Pondycherry (popularly called Pondy) and no one was interested in the position, especially since it is already a union territory. However, once the confusion cleared, there was a mad scrambling, lobbying, & toadying to the CM by MLAs in order to get the lucrative position. A minister has not yet been announced but an announcement is expected soon.

P.S. If Pondycherry were a hub for Ponzi activity, would it be called Ponzicherry?