Nevada Attorney General Aaron D. Ford has announced a joint action with the Federal Trade Commission (FTC) against IYOVIA, formerly known as IM Mastery Academy, for allegedly deceiving consumers in an investment training and business venture scheme. The complaint claims that since 2018, the operation has taken over $1.2 billion from consumers through misleading earning claims.
The FTC and Nevada Attorney General's complaint states that IYOVIA used false promises to lure individuals into purchasing financial training and participating in a multi-level marketing business. It is alleged that the company targeted young people by promoting on college social media pages.
Attorney General Ford stated, "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." He emphasized his commitment to protecting Nevadans from such schemes.
The marketing strategy of IML involved social media posts showcasing supposed successful trades using their training programs. Interested consumers were invited to sales events or contacted by salespeople who promoted expensive programs with claims of early retirement and luxury lifestyles.
The complaint identifies Chris and Isis Terry, along with top officers Jason Brown, Alex Morton, Matthew Rosa, and Brandon Boyd as defendants. It alleges violations of the FTC Act, Telemarketing Sales Rule, Restore Online Shoppers’ Confidence Act, and Nevada state laws.
The FTC's decision to file the complaint was unanimous at 3-0. The case is filed in the U.S. District Court for the District of Nevada.
According to the FTC's procedures, complaints are filed when there is "reason to believe" law violations are occurring or imminent, indicating public interest in proceeding with legal action.
The Federal Trade Commission continues its mission to stop deceptive practices and educate consumers about fraud prevention through resources like ReportFraud.ftc.gov and consumer.ftc.gov.