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| English: Fortune Hi-Tech Marketing, Inc. (FHTM) Logo (Photo credit: Wikipedia) |
FTC just announced on 28-JAN-2013 that it has filed a court injunction to shut down Fortune Hi-Tech Marketing, a MLM organization that claims to be selling everything from DISH satellite service, magazines, to roofing, and more, but in reality it encourages its own reps to consume the products AND to recruit more people to do the same in order to qualify for larger "residual" commissions.
The website now points to a court-appointed receivership website.
FHTM had been mentioned several times before on this blog, where its own company officials trotted out the red herring "We've never been charged with a crime, we're legal". Well, clearly the run's over. From its own disclosure, 95% of its reps makes LESS THAN 3000 A YEAR, not counting expenses or "self-consumption'.
FHTM was also previously investigated by multiple states, though those resulted in little direct legal action. Still, previously there were various false representations, such as "Bank of America CEO is a member" (reality: his wife was recruited by a friend of hers).
This followed sudden shutdown of Zeek Rewards ponzi scheme in August 2012 by SEC (securities exchange commission).
People who track these scams would notice vast similarities between FHTM and Zeek Rewards... long criticism by critics, several investigations by authorities (or alleged), company denial of any wrong doing, using various fallacies such as "appeal to age", and "blame the minions", vast majority of reps make little to no money according to their own disclosure, and so on.
You can read the FTC press release here:
http://www.ftc.gov/opa/2013/01/fhtm.shtm
Well, now it's all done but for the cryin'!! the FTC and the Kentucky Attorney General's office raided FHTM's offices and warehouse on 28 January 2013 and all their assets are frozen. No more paychecks, no more recruiting and no more sales. The reps need to cancel all affiliated actions.
ReplyDeleteThe real question is why does the Government have the right to regulate "Free Trade" They obviously are not going to take down "Banksters" something that should be regulated, but instead they pick our pocket to save them. I am not a member of FHTM nor desire to be but that does not give anyone the right to tear down a company that are keeping thier agreements. No one forced anyone into FHTM nor to stay with the company.
ReplyDeleteNobody is allowed to perpetrate a fraud such as a pyramid scheme. Whether people entered into it "willingly" is beside the point. Besides, did you actually read the FTC complaint against FHTM?
DeleteThe memoir is finally available. All of the truth telling about the internal workings of FHTM as a corrupt and Ponzi type MLM is available. Whistle-blower Joseph Isaacs, who was made famous by exposing the Fortune Hi-Tech Marketing (FHTM) pyramid scheme and fraud back in 2010 has just released his memoir called, “Skapegoat – the FHTM Blame Game Story” via Amazon at http://www.amazon.com/dp/B00C43JKQG or in paperback via https://www.createspace.com/4227088 This compelling, true and personal, story is about a successful semi-retired 30+ year entrepreneur that turned whistle-blower after getting involved with an illegal Ponzi style MLM called Fortune Hi-Tech Marketing (FHTM) in 2009. Top FHTM leaders and its founder Paul Orberson tried to destroy his life after he developed a FREE Facebook style tool-set for the industry. Subsequent to FHTM receiving their 2nd cease and desist from Montana, he filed a complaint with the Kentucky BBB explaining their fraudulent ways, in an effort to get reimbursement for unwanted inventory. Shortly thereafter they make him the global scapegoat for everything bad happening to FHTM. Mr. Isaacs was hit with a frivolous lawsuit claiming trademark violation for marks they never owned. The “fortune mark” is owned by Time, Inc. and FHTM was under an order to stop using it themselves. This was a foolish attempt to gag him and stifle his "Freedom of Speech" rights to prevent FHTM from being further branded as an "Illegal Pyramid Scheme". The stress of the harassing litigation caused multiple life-threatening heart attacks. Mr. Isaacs almost died in 2011 from the heart issues caused by FHTM. This story will keep you mesmerized by the deceit, sexual harassment, lies, judicial manipulation, influence peddling and the drama that unfolds over the next couple of years.
ReplyDeleteah yes the new edition to pulp fiction...5 porcelain thrown awards to Joseph Isaacs for this literary achievement.
ReplyDeletethrone... not thrown.
ReplyDeleteThis comment has been removed by a blog administrator.
Deleteyes, thanks my bad
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