Fortune Hi-Tech Marketing Shut Down by FTC as Pyramid Scheme
Another MLM company bites the dust as the FTC announced it has shut down Fortune Hi-Tech Marketing. The government has accused Fortune of being a pyramid scheme where 96% of its distributors were losing money. Fortune reps sold a variety of products and services including Dish Network subscriptions, vitamins, and cosmetics. The FTC stated that the real money was not in the sale of these goods but in the recruiting of new members.
What will happen to all those happy, successful FHTM representatives shown on this pro-FHTM website? Did they know they were participating in a pyramid scheme? Check out these tweets from FHTM distributors from just a few days ago about all the great things coming to their business:
Somehow, I don’t think getting shut down by the FTC was on their list!
Read more news about the shut down here:
- The Wall Street Journal
- USA Today
- Article with reactions from current FHTM members about the shut down of their pyramid scheme
- Better Business Bureau in Lexington, KY, page on FHTM