FundAmerica

Fund America, Inc. was an illegal pyramid scheme based in Irvine, California until it was shut down through a cease-and-desist order by the Florida Attorney General's Office in 1991. President Bob Edwards was arrested by federal authorities at MBNA America Bank, N.A. in Wilmington, Delaware during business negotiations. Edwards later fled the United States with millions in company funds then came the subsequent discovery that he was wanted for fraud in London, England. It was the "downlining" of consumer buying club memberships (or in other words, "distributorships") that caught the attention of Florida Attorney General Bob Butterworth. Later Fund America, Inc. went through bankruptcy court procedings in California.

Resources

• False Profits mentions Fund America
• What's Wrong With Multi-Level Marketing? - III mentions Fund America and the founder