Montana State Auditor: Pyramid Scheme Stole $1.8 Million from Montana Residents
http://www.kfbb.com/news/local/87709867.html By KFBB News Team By The
Associated Press Story Published: Mar 15, 2010 at 9:26 PM MDT
The State is trying to stop an alleged pyramid scheme from operating here in Montana. The State Auditor has issued a Cease and Desist order against a company that has reportedly taken more than $1.8 million from participating Montanans.
After many phone calls and complaints over the last few months, Montana Commissioner of Securities and Insurance Monica Lindeen announced that her office has ordered Kentucky-based Fortune Hi Tech Marketing to stop operating in our state. "What they do is convince people that it's a great money-making venture,” Lindeen said. “Unfortunately, very few people actually make any money." Nearly 1,300 Montanans have been recruited to be part of the alleged pyramid scheme.
Commissioner Lindeen advises those people to immediately end their involvement with Fortune Hi-Tech Marketing. She adds that especially during difficult economic times, more schemes surface and people are more likely to look for alternative ways to generate income. "They have more scams today than ever,” said Helena resident Bud Lee. “People have to be wise." "I think it happens everywhere, so I’m not surprised it happened here," said Joey Carter of Helena. "When you lose your job, you find ways to keep the electricity on. So, I bet more of these things start to crop up," said Raylean Garrison of Helena.
Lindeen adds that members only benefit if they recruit others to join this alleged scam. She says her office is committed to keeping pyramid schemes out of Montana. "In Montana, we will not tolerate forms of pyramid schemes and we are going to stop it. We don't want to see hard-working Montanans lose their money." On its website, fortune hi tech marketing says it hopes for a quick resolution to the matter, but asks its montana reps to refrain from doing business in the meantime. lindeen says she anticipates a hearing against FHTM and hopes that some Montanans can get their money back.
