Montana accuses company of running pyramid scheme

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By The Associated Press

Story Published: Mar 15, 2010 at 7:17 PM MDT

Story Updated: Mar 15, 2010 at 9:28 PM MDT

HELENA - Montana has ordered a Lexington, Kentucky-based company to cease operations in the state, accusing it of running a pyramid scheme.

Monica J. Lindeen, the state Commissioner of Securities and Insurance, says Fortune Hi-Tech Marketing took nearly $1.9 million from at least 1,295 Montana participants between July 2006 and June 2009.

Lindeen says the company lures new members with income opportunities with companies such as Dish Network and General Electric. But, she says, members only benefit if they recruit others to join in the alleged scam.

A Fortune Hi-Tech Marketing spokeswoman referred comment to the company's legal department, which did not immediately respond Monday evening.

The company posted a message on its Web site saying it respects the state's right to oversee the conduct of businesses and hopes the matter will be resolved quickly.

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Melissa said on Tuesday, Mar 23 at 12:28 PM

Monica Lindeen your doing an awesome job! Thanks for the info.

Mike said on Friday, Mar 19 at 9:15 AM

It's about time someone stepped up and did their investigation on FHTM. Too many people loss money in FHTM. Monica Lindeen spent half a year gathering info from the enormous amount of complaints.

fortunerep said on Tuesday, Mar 16 at 6:19 PM

This is not the first time a company has been misjudged. FHTM is a legal business equal to all other mlm companies such as avon, mary kay, and pampered chef. It is those who join and believe that no work will make all their dreams come true who spread the rumors about it being a scam. It is not a guarenteed money earner, but several montanans have made the income needed by working with this business. FHTM does not "take" money from people and there is no way a company like GE would be affiliated with a scam. Think about it Monica.

ESM2009 said on Tuesday, Mar 16 at 3:47 PM

This is slander at its finest. Check your facts Lindeen. FHTM is legal. The ones that don't make money don't work. Plain and simple. Waste your time and your tax payers dollars elsewhere please.

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