FTC Returns More Than $3.7 Million to People Harmed by Pyramid 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.

Recipients should deposit or cash checks within 60 days. It is possible that the FTC will have additional funds to distribute in the future, after lawsuits filed against FHTM’s highest earning sales representatives have been resolved.

The FTC never requires people to pay money or provide account information to cash refund checks. If you have questions about the case, contact the FTC’s refund administrator, Epiq Systems, Inc., at 800-964-0978. Learn more about the FTC’s refund program.

The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). Like the FTC on Facebook, follow us on Twitter, read our blogs and subscribe to press releases for the latest FTC news and resources.

IR Press

Recent Posts

OCC Announces Enforcement Actions for November 2024

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against…

1 day ago

Remarks by Secretary of the Treasury Janet L. Yellen on the 30th Anniversary of the Community Development Financial Institution Fund

As Prepared for Delivery Good afternoon. It’s an honor to welcome President Clinton to Treasury today…

2 days ago

Treasury Sanctions Gazprombank and Takes Additional Steps to Curtail Russia’s Use of the International Financial System

Treasury imposes sanctions on dozens of Russian banks, securities registrars, and finance officials; OFAC issues…

2 days ago

Acting Comptroller Testifies on State of the Federal Banking System

WASHINGTON—Acting Comptroller Michael J. Hsu today testified on the state of the federal banking system…

2 days ago

Remarks by Assistant Secretary for International Finance Brent Neiman on the U.S. Cross-Border Payments Agenda

As Prepared for Delivery Thank you very much for the opportunity to be here today, and…

4 days ago