Fortune High Tech Marketing News
The operators of a Kentucky-based pyramid scheme, which enrolled more than 350, 000 consumers throughout the United States, Puerto Rico and Canada in the last four years, have been banned from multi-level marketing under a settlement with the Federal Trade Commission and the states of Illinois, Kentucky and North Carolina. The settlement also requires the operators to surrender assets totaling at least $7.75 million, which will be returned to consumers.
In January 2013, the FTC and the states charged the Fortune Hi-Tech Marketing (FHTM) defendants with deceiving consumers by claiming they would earn significant income through selling various products and services if they signed up as FHTM representatives. In recent years, the scheme targeted Spanish-speaking and immigrant communities. Participants were required to pay substantial start-up costs and monthly fees to retain their positions with the company. The court subsequently halted the deceptive practices, froze the defendants’ assets, and appointed a receiver over the corporations pending a trial.
After conducting its own investigation, the court-appointed receiver determined that FHTM’s main business was recruiting new members and not selling products and services as it claimed, and confirmed the allegations made by the FTC and the states. The overwhelming majority of participants – more than 98 percent – lost more money than they ever made. At least 88 percent of consumers did not even recoup their enrollment fees. To the extent that consumers could make any income, it was mainly for recruiting other consumers into FHTM’s scheme. More than 81 percent of the payments to participants were based on recruiting new members and not for the sale of products or services. Not surprisingly, at least 94 percent of consumers did not renew their membership after their initial year.
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What is the fortune high tech marketing for?
Fortune high tech is for making money from items that are under trademark of other companies illegally. It allowed people throughout the internet access to these items while profiting from it.
Is Fortune High Tech Marketing a scam? | Yahoo Answers
My friend is in this, and he really wants me to get into it. I went to a presentation, and they kept saying "It's not a pyramid scheme! It's legal!" But as far as I can tell, it's "technically" not a pyramid scheme, but it's very close. The only thing that makes it legally NOT a...
What is fortune high tech marketing.
It's a team of highly motivated and dedicated individuals working together toward a common goal; achieving success with integrity.