FHTM New Legal Troubles in Montana
-
FHTM ( Fortune Hi-Tech Marketing ) encountered new legal troubles this week as the state of Montana ordered the company to cease doing business in the state, and accused FHTM of being a pyramid scheme.
FHTM's first issue was with the North Dakota Attorney General. According to company press releases, the issue was minor and was cleared up quickly.
The company is prohibited from doing business in Montana until there is a hearing or a settlement in the matter.
State Commissioner of Securities and Insurance Monica J. Lindeen stated that Fortune Hi-Tech Marketing took nearly $1.9 million from over 1000 Montana participants between July 2006 and June 2009.
According to Lindeen, 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.