pyramid scheme

By FITSNews || A “multi-level marketing” company (a.k.a. pyramid scheme) with ties to former S.C. Secretary of State Jim Miles has been shut down by the State of Montana, according to documents obtained by FITS.  In fact, according to a copy of the Montana cease and desist order, Miles basically admits that the company in question – Fortune Hi-Tech Marketing (FHTM) – is a pyramid scam.

“(FHTM) is a pyramid, there’s no doubt about that,” Miles says in the order, although he goes on to claim that such scams are only illegal “if no products or services are being sold.”

Montana obviously disagreed with Miles’ assessment, becoming the second state in recent months to shut the business down.  Three months ago, North Dakota issued a similar cease and desist order against FHTM.

Miles involvement with this scheme – and other pyramid scams like it – was first reported by FITS last April, when he was still serving as Chief-of-Staff to S.C. Lt. Gov. Andre Bauer.

A month after our story broke, Miles was forced to resign from Bauer’s office – not for the pyramid schemes, but for his role in”Senior Scam,” a questionable business venture that funneled tens of thousands of tax dollars into a for-profit shakedown.

Incidentally, the University of South Carolina’s Athletic Department became embroiled in its own pyramid scam scandal two years ago – one involving a top Gamecock marketing official (and football announcer) – but the school chose to sweep the scandal under the rug.

FHTM Cease and Desist Order