Word came down today that Fortune Hi Tech Marketing has been shut down by the FTC and three state attorneys general.
We reported that FHTM came under fire back in 2010 with North Dakota and Montana.
A receiver appointed by the U.S. District Court of Northern Illinois raided the headquarters and warehouse in Lexington, Kentucky.
The court also froze Fortune Hi Tech’s assets.
Here is a snip from the FTC site:
“At the request of the Federal Trade Commission and the states of Illinois, Kentucky, and North Carolina, a federal court has halted an allegedly illegal pyramid scheme pending trial. The FTC and the state attorneys general seek to stop the allegedly illegal practices of the Fortune Hi-Tech Marketing (FHTM) operation, which claimed consumers would make substantial income by joining the scheme. The operation affected more than 100,000 consumers throughout the United States, including Puerto Rico, and Canada. In some areas, including Chicago, the scheme targeted Spanish-speaking consumers.”
You can read the full complaint here.
Good job Thank you.
Great reporting Ty. Keep up the good work.
Very interesting post. As an attorney and MLM'er, I'm always amazed at the lengths some companies will "allegedly" go to, in order to make the almighty dollar.
Ty, have you ever looked at Lyoness ? thoughts ?
How far do at some attorneys go to make an almighty dollar. Some defend people they know are lying because they make a substantial hourly rate.
This has been all over the news here in Kentucky. I wish we could quickly get rid of the scams. I sure doesn’t help all of us who are in legitimate companies.
I am glad the FTC has stepped in, it’s companies like this that give the MLM industry a bad name. Great article.
This news permeated in California. It’s a good move that FTC stepped in. Great information and very helpful!
Nubankguru who hasn't worked in 8 years by scamming citizens out of their hard earned money to start a community bank needs to learn the meaning of the word entrepreneur. Google Dan Hudson and see his slander/defamation lawsuit and judgement.
Its been awhile but Joe use to hang with me to introduce many of his MLM ventures. He has a new one TELEXFREE as he has been filing for their licenses in each state. I will probably hear from him soon as its been awhile since he trimmed the bushe.