The characters in "Volpone" and Mosca's schemes are blinded by their own misconceptions, believing they are destined to inherit Volpone's wealth. Each is caught in a web of illusion. Voltore attempts to deceive the court, only to face repercussions when his lies are exposed. Corvino is so deluded that he offers Celia to Volpone, thinking the latter is too ill to exploit her. Corbaccio is manipulated into sacrificing his son's inheritance, hoping to gain greater riches. Ultimately, all of them end up with less than they expected. Even Volpone, who places his trust entirely in Mosca, falls victim to his deceit. Mosca stands alone as the only character who truly understands the full scope of the deception.

At first glance, it might not be immediately apparent that "Volpone" deals with class issues, likely because Jonson didn't aim to highlight class when crafting the play. However, the unequal punishments at the play's conclusion prompt questions about social roles. The judges declare that Mosca, "being a fellow of no birth or blood," will be whipped and condemned to a life in the galleys. His penalty is more severe than the others due to his lack of social standing. Mosca is captured and pulled off stage, crying out. In contrast, the other men accept their lighter sentences with composure. Because Mosca lacks noble lineage, he is the only one subjected to physical punishment and the humiliation of being dragged from the court.

The storyline of Jonson's play centers on the theme of deception. Each of the three victims attempts to deceive others for monetary gain, yet they end up deceiving themselves. Their eagerness to accept falsehoods is what makes the trickery successful. Each victim tries to outsmart Volpone by pretending to be a compassionate supplicant. Mosca and Volpone manipulate each victim by promising them greater riches in exchange for lavish gifts. The scheme depends on the victims not banding together against Volpone. When Volpone pretends to die and the three victims are gathered to see Mosca's victory, their collective suffering and awareness of their own deception lead to Voltore retracting his defense of Volpone.

The greed of the victims is what fuels Volpone's scheme. Each victim is eager for more wealth than they are entitled to and attempts to improve their standing by offering increasingly extravagant gifts. Volpone, too, is motivated by greed, but his desire is for entertainment at the cost of his victims rather than monetary gain. In the end, Volpone's relentless urge to degrade his victims causes the collapse of his plan.

The play's conclusion imparts a moral lesson: greed ultimately leads to the downfall of each character. Corvino loses both his wife and her dowry, which he must repay at three times its original value. Corbaccio is sent to live in a monastery, while the estate he tried to keep from his son is rightfully given to him. The lawyer, Voltore, is disbarred and exiled from Venice. Volpone is sentenced to prison, and all his possessions are donated to a hospital—a fitting end since he pretended to be ill. Mosca, from a lower social class, receives the most severe punishment. He is whipped and condemned to a lifetime of servitude in the galleys. Each character receives a fitting punishment for their greed, delivering a profound moral lesson to the audience.

Volpone challenges our understanding of who qualifies as a victim. Initially, those ensnared in Volpone's plot are misled into giving him money and gifts, enriching him through their exploitation. But are they genuinely victims of Volpone and Mosca, or are they victims of their own greed? They might perceive themselves as targets of Volpone's malicious scheme, yet the audience is unlikely to feel sympathy for them. The true victims are Bonario and Celia, who are unjustly accused and convicted of crimes they did not commit. Despite everything, in the final act, when punishments are being distributed, Celia pleads with the court for leniency for her husband, who has mistreated her so poorly.