WASHINGTON, D.C. — A federal judge in Nevada has issued a preliminary injunction against the operators of IM Mastery Academy and its affiliated companies, freezing assets and halting business activities as regulators pursue claims of a massive investment training scheme that allegedly defrauded consumers of more than $1.2 billion.
The order, issued on August 21, targets companies operating under several names — including IYOVIA, IM Mastery Academy, iMarketsLive, and IM Academy — along with founders Chris and Isis Terry. According to a joint complaint filed in May by the Federal Trade Commission and the State of Nevada, the defendants lured consumers into purchasing costly investment training programs through deceptive earnings claims and then recruited participants into a multi-level marketing (MLM) model that promoted reselling the same training services to others.
The injunction requires the defendants to preserve assets and business records and places a court-appointed monitor to oversee compliance. Among other provisions, the order prohibits the defendants from:
- Making earnings claims without clear, accurate, and substantiated proof
- Misrepresenting material facts, such as the level of experience or capital required
- Hiding key terms of refund, cancellation, or exchange policies
- Engaging in practices that violate the FTC’s Telemarketing Sales Rule
The FTC alleges that the defendants used exaggerated income promises to market their services, misleading consumers about their potential to profit through trading or recruitment. The agency contends that thousands of participants incurred significant financial losses.
This injunction follows recent settlements with three other defendants connected to the scheme — Global Dynasty Network, LLC, Jason Brown, and Matthew Rosa — who agreed to resolve claims over their roles in promoting the program.
The case is part of the FTC’s broader efforts to crack down on deceptive marketing practices and protect consumers from fraudulent investment schemes.
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