The Federal Trade Commission (FTC) and the State of Nevada have initiated legal proceedings against IM Mastery Academy, also known as IYOVIA, for running a deceptive investment training and business venture scheme. The complaint alleges that the company has defrauded consumers of more than $1.2 billion by making false or misleading earning claims to entice individuals into purchasing their training programs.

IM Mastery Academy has been accused of promoting a multi-level marketing (MLM) business model that encourages participants to market the company's training services to others. The complaint highlights that the company has specifically targeted young people, utilizing social media platforms to reach college students with enticing posts about potential earnings.

According to FTC officials, the marketing tactics employed by IML include extravagant claims about quick financial success, such as retiring in one’s 20s or making money effortlessly. However, the reality is starkly different, as many of the so-called trainers lack formal qualifications and the company has no verifiable records of consumer success. Data reveals that a significant percentage of customers discontinue their training services shortly after enrollment, with many losing money instead of profiting.

The complaint names several individuals, including the company's owners and top salespeople, as defendants, alleging violations of multiple laws, including the FTC Act and Nevada state laws. The case has been filed in the U.S. District Court for the District of Nevada, and the FTC is committed to protecting consumers from such deceptive practices.