Federal regulators say IM Mastery Academy lured young people with promises of wealth and left them with nothing but debt and broken dreams.
At a Glance
- FTC and Nevada sue IM Mastery Academy for defrauding consumers
- Company allegedly stole $1.2 billion through deceptive training programs
- False earning claims and unqualified trainers at the center of the case
- Marketing heavily targeted teens and young adults via social media
FTC and Nevada Join Forces
The Federal Trade Commission (FTC) and the State of Nevada have jointly sued IM Mastery Academy, accusing the company of misleading tens of thousands of consumers through bogus online trading courses and an illegal pyramid scheme. According to the complaint filed in the U.S. District Court of Nevada, IM Mastery allegedly deceived consumers out of more than $1.2 billion.
The defendants include founders Chris and Isis Terry and several top promoters who targeted youth through flashy social media campaigns promising financial independence, luxury travel, and early retirement. In reality, the FTC claims most customers lost money while paying monthly fees for access to substandard training from unqualified “educators.”
Watch coverage of the case on YouTube at this video report.
A Pattern of Deceit
The FTC’s press release details how IM Mastery operated like a multi-level marketing scheme, pressuring participants to recruit others to earn commissions. Only a small percentage of enrollees saw any profit—most dropped out within six months. Rebranding under names like “IYOVIA” failed to hide what regulators called a “massive deception machine.”
“The breadth of this scam is remarkable,” said FTC attorney Christopher Mufarrige. “From brazen earnings claims to the fact that their so-called investment trainers are often nothing more than salespeople.”
The lawsuit accuses the company of violating the FTC Act, the Telemarketing Sales Rule, and multiple Nevada consumer protection statutes.
Warning for Consumers
This case is a stark reminder of the dangers of financial hype culture on social media. IM Mastery’s success in attracting young consumers—especially from Black and Latino communities—highlights how online imagery of wealth can obscure reality. Nevada Attorney General Aaron Ford emphasized the need to “protect vulnerable Nevadans from exploitative schemes posing as opportunities.”
With legal proceedings underway, the FTC seeks to halt the operation, secure financial redress for victims, and bar the defendants from future deceptive conduct.
As American consumers continue to be bombarded by “get-rich-quick” marketing online, this lawsuit is a clear message: regulators are watching—and ready to act.
