Fortune Hi Tech Marketing (FHTM), a multi-level marketing company I’ve reported on previously (and was interviewed about) was shut down today by the Federal Trade Commission. It is being reported that federal agents raided the company’s Lexington, Kentucky office.
Law enforcement says that 100,000 people across the country were recruited into FHTM, each paying $100 to $300 per year for the right to receive recruiting and sales commissions. A complaint was filed against Fortune HiTech Marketing on Thursday, and the judge issued a temporary restraining order to shut the company down.
Steve Baker, the head of the FTC’s midwest office said “..the plan was set up so that 96% of people lose money.” He also said: