Antitrust Law Daily Wrap Up, CONSUMER PROTECTION NEWS: FTC secures settlement worth nearly $90 million in IM Mastery Academy marketing scheme, (May 14, 2026)

By Steven Melendez

Five individual and corporate parties agreed to turn over assets to resolve claims over the financial training multi-level marketing operation.

Five individual and corporate parties have agreed to turn over nearly $90 million in a proposed settlement with the FTC and State of Nevada over the IM Mastery Academy program, which the FTC says induced people to pay for financial training and a multi-level marketing (MLM) operation through “false or baseless” earnings claims. A proposed stipulated order in the case would impose a $795.8 million judgment, with the bulk of the judgment suspended upon the turnover of a range of assets including real estate, jewelry, and luxury cars. The proposed settlement includes alleged ringleaders Chris and Isis Terry, the FTC announced (FTC v. International Markets Live, Inc., No. 2:25-cv-00760-CDS-EJY (D. Nev. May 13, 2026)).

Background. In May 2025, the FTC and Nevada Attorney General’s Office sued an investment training and business venture they alleged cheated consumers out of more than $1.2 billion. The operation was known variously as IM Mastery Academy, iMarketsLive, IM Academy, and IYOVIA.

On August 8, 2025, the FTC announced that three defendants in the case—Global Dynasty Network, LLC, Jason Brown, and Matthew Rosa—agreed to pay $2.5 million to settle the allegations against them. The FTC had alleged that Brown and Rosa were two of the most highly compensated salespeople for the scheme, made deceptive earnings claims, and instructed other salespeople on how to evade detection while making such claims. They allegedly made more than $36 million from the scheme, with most of those funds channeled through their company, Global Dynasty Network. A stipulated injunction barred them from further such claims.

Also in August 2025, the FTC and Nevada secured a preliminary injunction barring Chris and Isis Terry and a set of corporate defendants from making misleading earnings claims, misrepresenting or assisting others in misrepresenting certain material facts, failing to disclose material terms of a negative option transaction, violating the FTC’s Telemarketing Sales Rule, or disclosing personally identifying information obtained through the alleged scheme. In November 2025, the FTC and Nevada obtained a modified preliminary injunction, which imposed a receivership and an asset freeze on the Terrys and their companies, according to the FTC.

Stipulated order. The proposed stipulated order will require the Terrys and three associated corporations to turn over within 10 days of its court approval a set of receivership assets, including what the FTC describes as “eight luxury homes in New York, Nevada, Florida and Dubai; 13 home lots in a high-end real estate development near Las Vegas; 19 automobiles, including Range Rovers, BMWs, a Bentley and a Rolls Royce; a yacht; and jewelry including a 15-carat diamond ring and Richard Mille, Bulgari and Rolex watches.” The remainder of the judgment will be suspended, unless the defendants are found to have “failed to disclose any material asset, materially misstated the value of any asset, or made any other material misstatement or omission” in a set of financial statements.

Additionally, the Terrys and the corporations would be barred from selling trading-traning services and investment opportunities; prohibited from making false earnings claims or earnings claims without a “reasonable basis;” prohibited from making representations about goods or services, including the level of experience required to use a good or service; barred from misrepresentations regarding goods or services sold with a negative-option reature and required to make certain disclosures around such goods or services; required to obtain express informed consent before charging for goods or services sold with a negative option feature; required to have a simple cancellation mechanism for any negative-option features; and barred from a range of misleading and deceptive practices including violation of the FTC’s Telemarketing Sales Rule.

“Today’s action reflects the Federal Trade Commission’s steadfast commitment to protecting our markets and consumers from deceptive schemes that take advantage of Americans seeking legitimate financial opportunities,” said Christopher Mufarrige, director of the FTC’s Bureau of Consumer Protection. “As the facts of this case demonstrate, consumers should be cautious when encountering money-making opportunities that promise significant earnings, especially those spread on social media. The Commission will continue to aggressively target scammers who mislead the public and use every tool at our disposal to shut down harmful scams.”

The Case is No. 2:25-cv-00760-CDS-EJY.

Judge: Silva, C.

Attorneys: Thomas Biesty for the FTC. Lars K. Evensen (Holland & Hart, LLP) for International Markets Live, Inc.

Companies: International Markets Live, Inc.

News: ConsumerProtection FederalTradeCommissionNews NevadaNews