Welcome

Thank you for visiting Paducahsun.com, online home of The Paducah Sun.

Calendar
June 2012
S M T W T F S
27 28 29 30 31 01 02

Click here to submit an event.

Company to return $7.75 million to consumers

FRANKFORT - A Kentucky-based company has been ordered to return $7.75 million in assets to more than 350,000 people who were caught up in what officials say was one of the country's largest pyramid schemes.

Officials said Fortune Hi-Tech Marketing would charge people $249 for the rights to sell products like satellite TV service and home security systems. The company would target Spanish-speaking communities and promised them they could get rich if they sold the products. But state and federal officials said the company's promotional materials focused on recruiting new members, not selling products.

"This was a classic pyramid scheme in every sense of the word," Kentucky's Democratic Attorney General Jack Conway said in a news release. "The vast majority of people, more than 90 percent, who bought in to FHTM lost their money."

The Federal Trade Commission, along with Conway and attorneys general in Illinois and North Carolina, announced the settlement Tuesday with the Lexington-based company.

Kentucky officials started investigating Fortune Hi-Tech Marketing in 2010 after officials in North Dakota, Montana and Texas reached settlements with the company. Conway's office said it received about a dozen complaints from consumers.

Comments made about this article - 0 Total

Comment on this article

Your comment has been submitted for approval
captcha 0027efc3e1ec40118ff4dff91b93df06
Top Classifieds
  • Labrador Pups $500 839-1198 Details
  • HAVANESE PUPS AKC Home Raised, Best H ... Details
  • Details
  • Lower town Condo w/ garage, Leslie He ... Details
  • Beautifully &Totally Renovated Co ... Details
  • House for SaleAurora, KY2 Bdr, Liv RM ... Details
  • SEEING is believing! Don't buy p ... Details
  • Hill Crest SubdivisionCorner Lot180x ... Details
  • AUTOMOVER SPECIAL6 lines - 14 dayson ... Details
  • Red 2013Ford Taurus Loaded30,000 + mi ... Details
  • 2007 NissanAltima Hybrid147,000 miles ... Details
  • Coachman Pop-Up Camper $1800 270-744- ... Details
  • Old Ford Backhoefixable or for parts2 ... Details

Most Popular
  1. Duplicate Bridge
  2. U.S. can't check ideals at the door
  3. BOGUS EU court decides no science required
  1. BOGUS EU court decides no science required
  2. Falling gas prices to fuel holiday trips
  3. Resplendent summer sunrise
  1. Duplicate Bridge
  2. U.S. can't check ideals at the door
  3. BOGUS EU court decides no science required
Discussion

Check out these recently discussed stories and voice your opinion...