(1996151) -- The Federal Trade Commission says it has shut down a Bellingham
based pyramid scheme that used the Internet to bilk consumers of millions
of dollars.

Fortuna Alliance L.L.C. lured investors through its home page on the World
Wide Web, the multimedia potion of the global computer network, the FTC
said.  Fortuna promised returns of more than $5,250 a month indefinitely to
customers who joined by investing anywhere from $250 to $1,750, officials
said.

The group said it could promise such hefty returns because its concept was
based on a "mystical mathematical formula" developed by a 13th-century
Italian monk named Leonardo Fibonacci, said Charles Harwood, regional
director for the FTC in Seattle.

"There were representations about charitable activities, and various
intentions to sell things" such as skin-care products, books and tapes,
Harwood said.  Fortuna and its officers provided advice and promotional
materials for members to set up their own Web site and recruit others.

In court papers, the agency said Fortuna took more than $6 million from as
many as 30,000 people since it began operating in October or November,
transferring at least $3.55 million to a bank in Antigua in the West Indies.

The FTC estimated that 95 percent of those who participated would lose
money.

"Behind all the techno-jargon and the mathematical mumbo jumbo, this is just
an elaborate, electronic version of a chain letter," said Jodie Bernstein,
director of the FTC's bureau of consumer protection.

The FTC filed a complaint in federal court alleging unfair and deceptive
trade practices under the Federal Trade Commission Act.  The agency won a
federal court order Wednesday temporarily halting the business, freezing its
assets and appointing a receiver to manage the company.

Named in the FTC complaint were Fortuna's five officers:  Augustine Delgado,
Libby Gustine Welch, Donald R. Grant, Monique Dlgado and Gail Oliver.  All
are Washington state residents. They could not be reached for comment.

The FTC has asked the court to issue a permanent injunction that would
provide remedies for consumers hurt by the alleged scam.

"We moved pretty quickly here, and I'm optimistic we will get some (money)
back," Harwood said.

Hardwood's office was tipped off to the alleged scam by Bellingham police,
who were getting complaints from callers around the world.

   Log on the WebSite at http://www.fraud.org, or call 1-800-876-7060.
     If you spot obviously illegal operations on the E-Ways, please
     forward copies of the messages to NFIC at fraudi...@psinet.com.
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