FTC return $3.7 million to FHTM victims
For most MLM underbelly victims, they’re don’t get anything back.
Fortunately for Fortune Hi-Tech Marketing victims, regulators intervened before it was too late.
Back in 2014 an FTC enforcement action against FHTM saw a suspended $169 million dollar judgement imposed.
FHTM’s operators surrendered millions of dollars in assets to satisfy judgement, which the FTC is now returning to victims of the scheme.
The Federal Trade Commission is mailing 285,361 checks totaling more than $3.7 million to people who lost money to Fortune Hi-Tech Marketing (FHTM), a pyramid scheme whose operators were banned from multi-level marketing under a settlement with the FTC and the states of Illinois, Kentucky and North Carolina.
Lawsuits against top FHTM continue, the resolution of which is expected to provide additional funds for the FTC to return to victims.
The FTC advises that recipients of checks ‘should deposit or cash checks within 60 days‘.
Good news all round, and here’s hoping the FTC nails FHTM’s top scammers for every last dollar scammed.
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