FundAmerica
FundAmerica, Inc. was a discount buying club that marketed consumer buying club memberships through multi-level marketing. The business began in 1987 in Los Angeles, California before moving its offices to Irvine, California.
FundAmerica's founder, Robert T. Edwards, was arrested in July 1990 for allegedly running a pyramid scheme.
FundAmerica filed for bankruptcy in August 1990 In late August 1990, Robert T. Edwards was fined $20.4 million dollars by Florida for running a pyramid scheme. In 1994 in Florida, the company pleaded no contest to a reduced charge of misrepresenting investors' odds of success and paid a $200,000 fine. A new company, FundAmerica 2000, was started with Robert Edwards as a consultant.
