IM Mastery Academy (IYOVIA / iMarketsLive / IM Academy)

A $795.8 million judgment was imposed. To partially satisfy this, defendants will surrender assets including: eight luxury homes in New York, Nevada, Florida and Dubai; 13 home lots near Las Vegas; 19 automobiles (Range Rovers, BMWs, Bentley, Rolls Royce); a yacht; and jewelry including a 15-carat diamond ring and Richard Mille, Bulgari and Rolex watches. Total value of assets to be turned over combined with prior settlements exceeds $100 million. The order bans defendants from selling trading-training services and investment opportunities, prohibits false earnings claims, and requires express informed consent before charging consumers.

The FTC and State of Nevada secured settlements requiring ringleaders Chris and Isis Terry and their companies to surrender assets valued at nearly $90 million to resolve charges that they used false or baseless earnings claims to persuade people to pay for financial training programs and a multi-level-marketing business venture operating as IM Mastery Academy, IYOVIA, iMarketsLive, and IM Academy. The scheme generated more than $1.2 billion since 2018 by targeting young people with social media posts flaunting luxurious lifestyles purportedly funded by trading profits and MLM commissions.

The defendants violated the FTC Act by making false or baseless earnings claims to entice consumers to purchase training on investing in financial markets. They used similar claims to persuade consumers to buy into their multi-level-marketing business venture. The deceptive marketing targeted young people using social media posts showcasing luxury lifestyles. The scheme operated under multiple brand names: IM Mastery Academy, iMarketsLive, IM Academy, and most recently IYOVIA.