FTC Secures Preliminary Injunction Against IM Mastery Academy and Its Owners

A U.S. District Court judge in Nevada has issued a preliminary injunction against the three companies that executed the IM Mastery Academy schemes and the two individuals who have led it, halting their activities and requiring them to preserve their assets.

In a complaint filed in May 2025, the FTC and the State of Nevada allege that the scheme—which operated most recently as IYOVIA, but has also branded itself as IM Mastery Academy, iMarketsLive, and IM Academy—used false or baseless earning claims to entice consumers to purchase training on investment in financial markets. The defendants have used similar claims to persuade consumers to buy into the defendants’ multi-level marketing business venture, which involves marketing the defendants’ training services to others. The FTC alleges that the total harm to consumers since 2018 exceeds $1.2 billion.

The preliminary injunction against Chris and Isis Terry and the companies that operated the scheme requires the defendants to preserve assets and records, and puts a monitor in place to ensure that the companies comply with the law and the requirements in the preliminary injunction. The preliminary injunction prohibits them from:

• Making any earnings claim, unless it is non-misleading at the time it’s made, the defendants have a reasonable basis for the claim, and written materials that substantiate the claimed earnings are typical for similarly situation consumers are available upon request to consumers, the FTC, the court-appointed monitor, and potential purchasers;
• misrepresenting, or assisting others in misrepresenting, material facts including the level of experience required, the amount of capital required, and the terms of any refund, cancellation or exchange policy;
• failing to disclose clearly and conspicuously all material terms of any negative option transaction before obtaining the consumer’s billing information and express informed consent for the transaction; and
• violating the FTC’s Telemarketing Sales Rule.

Last week, the FTC announced that three other defendants involved in the scheme, Global Dynasty Network, LLC, Jason Brown, and Matthew Rosa, agreed to a settlement related to their roles in the scheme.

The FTC staff attorneys on this matter are Tom Biesty, Laura Basford, Ron Brooke, and Josh Doan of the FTC’s Bureau of Consumer Protection.