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Company Accused Of Pyramid Scheme To Pay $7.75M In Settlement

A Lexington marketing company has been ordered to return millions of dollars to its former customers.

While flowing testimonials mix with uplifting sights and sounds on one of Fortune Hi-Tech’s online ads, it was quite a different picture Tuesday as Attorney General Jack Conway announced a settlement that will force the company to pay back $7.75 million.

Conway had dubbed Fortune Hi-Tech a “classic pyramid scheme,” with more than 90 percent of its subscribers losing money. The accusations are hardly a first for the company. Similar allegations have led to fines in Montana, North Dakota, and Texas.

FHTM would sign up representatives at a cost of $99 to $299 to the individual. Representatives would then receive commissions for selling goods and services and for signing up new recruits.

The settlement did not require Fortune Hi-Tech to admit any wrongdoing.

Josh James fell in love with college radio at Western Kentucky University's student station, New Rock 92 (now Revolution 91.7). After working as a DJ and program director, he knew he wanted to come home to Lexington and try his hand in public radio.