In May 2026, the Federal Trade Commission and the State of Nevada jointly announced settlements with five individual and corporate defendants associated with IM Mastery Academy, the investment training and business venture operation now branded as IYOVIA and previously known as iMarketsLive and IM Academy. Among the settling defendants are the operation's principal figures, Chris and Isis Terry. According to the agencies, the scheme bilked consumers of more than $1.2 billion, making it one of the more significant joint federal-state enforcement actions in this space.
The action was brought under Section 5 of the FTC Act, which prohibits unfair or deceptive acts or practices in or affecting commerce. The agencies alleged that the defendants marketed investment training and a related business venture opportunity to retail consumers, generating substantial revenue through what regulators characterized as a deceptive operation. The repeated rebranding of the enterprise-from iMarketsLive to IM Academy and ultimately to IYOVIA-was a notable feature of the case and reflects a pattern regulators have flagged in similar matters involving multi-level marketing and earnings-based recruitment models.
For business venture promoters, investment educators, and principals of multi-level marketing organizations, the settlement carries several important signals. First, the coordinated involvement of the FTC and a state attorney general's office underscores a continuing trend toward federal-state cooperation in policing earnings claims and business opportunity representations. Second, the scale of the alleged consumer harm-and the agencies' decision to name individual ringleaders alongside corporate defendants-reinforces that personal liability remains a meaningful risk for executives, founders, and senior promoters whose conduct is alleged to drive deceptive practices.
Companies operating in the investment training, financial education, and MLM sectors should review their earnings disclosures, income claims, marketing materials, and compliance controls in light of this enforcement activity. Particular attention is warranted where a venture has been rebranded, restructured, or expanded into new product lines, as continuity of practices across brand iterations has drawn regulatory focus.
This article is provided for general informational purposes only and does not constitute legal advice. Clients facing questions about FTC compliance, earnings claims, or related enforcement risk should seek tailored advice from qualified counsel regarding their specific circumstances.