Defendants.
Case Summary
The Federal Trade Commission and the State of Nevada are taking action to stop a wide-ranging investment training and business venture scam that has bilked consumers out of more than $1.2 billion. According to the complaint filed by the FTC and the Nevada Attorney General, the scam currently operates as IYOVIA and has also used the brand names IM Mastery Academy, iMarketsLive, and IM Academy (collectively, “IML”).
The complaint alleges the company and its operators use false or baseless earning claims to entice consumers to purchase training on financial topics. They have used similar claims to persuade consumers to buy into IML’s multi-level-marketing business venture, which involves marketing IML’s training services to others. It also alleges that that IML deliberately focused on marketing to young people, including through posts to college social media pages.