FTC and Nevada Target $1.2 Billion Investment Scam | IML Exposed

The Federal Trade Commission (FTC) and Nevada have launched legal action against a massive investment training and business venture scam, costing consumers over $1.2 billion. The scam, now branded as IYOVIA, previously operated under names like IM Mastery Academy, iMarketsLive, and IM Academy—collectively known as “IML.” Authorities claim IML used deceptive earnings promises to lure consumers into pricey financial training programs and a multi-level marketing (MLM) scheme.

The lawsuit, filed jointly by the FTC and Nevada Attorney General, accuses IML and its operators of making unfounded claims to sell training courses—some costing up to $400 monthly—and encouraging participants to recruit others into the MLM structure. Targeting young adults, IML allegedly exploited social media, including college pages, with posts showcasing fake trading successes and lavish lifestyles.

“This scam‘s scale is staggering, from wild earnings claims to unqualified ’trainers‘ posing as experts,” said Christopher Mufarrige, FTC Bureau of Consumer Protection Director. “It’s hurt countless consumers, especially young people trying to build a future. Were proud to partner with Nevada to stop it.”

IML‘s recruitment often begins with flashy social media ads—think luxury cars and exotic trips—posted by salespeople claiming huge profits from IML’s training. Interested consumers are then pitched at events or via calls, promised riches like retiring in their 20s or earning cash “in your sleep.” Yet, the FTC alleges these “trainers” lack credentials or proof of success, and the earnings claims are baseless. Evidence shows IML keeps no records of customer outcomes, while its own data reveals that 60% of users quit the training within a month, and 90% drop out by six months. Most MLM participants lose money, not make it.

Named in the suit are IML, owners Chris and Isis Terry, and key figures Jason Brown, Alex Morton, Matthew Rosa, and Brandon Boyd. The complaint cites violations of the FTC Act, Telemarketing Sales Rule, Restore Online Shoppers‘ Confidence Act (for the Terrys and IML), and Nevada laws. Filed in Nevada’s U.S. District Court, the case follows a unanimous 3-0 FTC vote to proceed.