Nevada Attorney General Aaron D. Ford has announced a collaborative effort with the Federal Trade Commission (FTC) to address alleged deceptive practices by an investment training operation known as IYOVIA. The complaint, filed by the FTC and the Nevada Attorney General, claims that since 2018, the operation has extracted over $1.2 billion from consumers through misleading financial training schemes.
Operating under various brand names such as IM Mastery Academy, iMarketsLive, and IM Academy, collectively referred to as “IML,” the company is accused of using false earning claims to lure consumers into purchasing financial training and joining a multi-level-marketing business venture. This venture involved promoting IML’s services to others. The complaint also highlights that IML specifically targeted young people, including college students via social media platforms.
“What IYOVIA did wasn’t just dishonest — it was predatory. They targeted vulnerable college students with empty promises, drained their savings, and walked away with over a billion dollars. That’s why my office joined forces with the FTC to shut this scheme down,” stated AG Ford. “Let me clear: I will always fight for Nevadans — period. And I won’t let scammers and fraudsters take advantage of anyone trying to build a better future, which is something every single person in the Nevada family deserves.”
The complaint describes how consumers were initially introduced to IML through social media posts showcasing purported successful trades using the company’s training programs. These posts often led to sales events or phone calls where potential customers were encouraged to purchase programs costing up to $400 per month. Marketing strategies included bold claims about early retirement, luxury lifestyles, and making money effortlessly.
Contrary to these assertions, many of IML’s “trainers” or “educators” lacked formal qualifications or trading experience necessary to substantiate their success stories or earnings claims. The defendants named in the complaint include company owners Chris and Isis Terry along with top salespeople Jason Brown, Alex Morton, Matthew Rosa, and Brandon Boyd. They are accused of violating several laws including the FTC Act and Nevada state laws.
The Commission authorized filing the complaint unanimously with a 3-0 vote in favor. It was submitted in the U.S. District Court for the District of Nevada.
The FTC aims to foster competition while preventing deceptive practices and educating consumers about fraud prevention through resources like ReportFraud.ftc.gov.
