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Sunday, June 23, 2024 | Back issues
Courthouse News Service Courthouse News Service

Fortune Hi-Tech Called a Pyramid Scheme

VISTA, Calif. (CN) - Fortune Hi-Tech bilks people in a pyramid scheme that "facially sells diet supplements" but actually makes its money by taking a $299 "initiation fee" from each new victim, and promises them $100 for each new person they sign up, one such "initiate" claims in Superior Court.

Michael Love sued on behalf of himself and the general public. He claims the "Multi-level marketing" operation is a classic pyramid scheme that requires constant infusions of new money.

Fortune Hi-Tech is based in Lexington, Ky. It pushes its scheme with the slogan "Your Life, Your Fortune" and promises "financial freedom," Love says. He claims it has run the game since 2000 and pushes it in meetings, teleconferences and "Webinars."

After collecting the $299 "initiation fee," the defendant promises $100 for each new member the initiate signs up, $10 for each recruit that one signs up, and $5 for each one that one signs up, Love says.

He is represented by Alexander Schack of San Diego.

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