FTC, Nevada file complaint against online company for deceiving consumers of millions

The FTC says company that pitched financial freedom scammed people out of $1 billion

The FTC says IYOVIA, a financial training platform, was really a multi-level marketing scheme.Getty Images; Jenny Chang-Rodriguez/BIThe Federal Trade Commission filed a federal complaint accusing IYOVIA — formerly IM Academy — of running a "multi-level marketing scheme."While the company touted promises of wealth, most people who joined actually lost significant money, the complaint said."The breadth of this scam is remarkable," a federal offici…

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

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 cryptocu…

FTC, Nevada file complaint against online company for deceiving consumers of millions

LAS VEGAS (KLAS) -- A federal complaint was filed by the Federal Trade Commission and the Nevada Attorney General against an online company for defrauding more than $1.2 billion from consumers over the past seven years. The complaint refers to IYOVA, which also uses the names IM Mastery Academy, iMarketsLive, and IM Academy, as a business venture scam that entices consumers, usually young people, to buy its educational materials and take courses…

IM Academy Faces Charges Over $1.2 Billion Training Scam - FinanceFeeds

A company offering investment training under multiple brand names has been accused of defrauding consumers out of more than $1 billion through exaggerated earnings claims and deceptive business practices, according to a complaint filed Thursday by the Federal Trade Commission and the state of Nevada. The entity, collectively referred to as “IML,” operated as IYOVIA, IM Mastery Academy, iMarketsLive, and IM Academy. It promoted training in crypto…

FTC and Nevada Sue Trading Business Over $1.2B Scam - USA Herald

The Federal Trade Commission (FTC) and the State of Nevada have jointly filed a lawsuit in federal court against IM Mastery Academy (IM Academy), accusing the company of scamming over $1.2 billion from consumers, particularly young adults, by promoting bogus trading courses and encouraging participation in a multi-level marketing (MLM) scheme. The lawsuit, filed in