FTC and Nevada AG Crack Down on $1.2 Billion Investment Scheme Targeting Young Adults

The Federal Trade Commission (FTC) and the Nevada Attorney General’s Office have initiated legal action against IM Mastery Academy—also known as IYOVIA, iMarketsLive, and IM Academy—for allegedly orchestrating a deceptive scheme that defrauded consumers of over $1.2 billion since 2018. The complaint asserts that the company enticed individuals, particularly young adults, with promises of substantial earnings through foreign exchange and cryptocurrency trading, only to enroll them in a multi-level marketing structure that prioritized recruitment over genuine financial education .

According to the FTC, IM Mastery Academy’s marketing strategy heavily targeted college students via social media, showcasing purported success stories of individuals achieving financial freedom and luxurious lifestyles. However, the agency contends that these narratives were misleading, as many of the so-called “educators” lacked formal training or verifiable trading success .

Christopher Mufarrige, Director of the FTC’s Bureau of Consumer Protection, stated, “The breadth of this scam is remarkable, from brazen earnings claims to the fact that their so-called investment trainers are often nothing more than salespeople.” He emphasized the significant harm inflicted on consumers, especially young individuals striving for financial independence .

The legal action seeks to halt the company’s operations and secure monetary relief for affected consumers. The case underscores the importance of vigilance against schemes that exploit aspirations for financial success, particularly those targeting vulnerable demographics through aggressive and misleading marketing tactics.

Source: Federal Trade Commission Press Release, May 1, 2025 .