FTC cracks down on IM Mastery Academy founders in $1.2 billion fraud case
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Three key figures behind a sprawling financial training and alleged multi-level marketing (MLM) scheme—once known as IM Mastery Academy—have agreed to pay $2.5 million to settle allegations brought by the Federal Trade Commission and the state of Nevada. The regulators say the trio used deceptive income promises and glamorized social media marketing to lure consumers—especially young adults—into buying financial education packages and joining a recruitment-driven business opportunity.
The defendants—Global Dynasty Network, LLC, Jason Brown, and Matthew Rosa—were top earners and promoters of the program, according to the joint federal-state complaint. The companies and individuals operated under a variety of names, including IYOVIA, IM Academy, iMarketsLive, and IM Mastery Academy, and promised participants the opportunity to profit through forex trading and crypto education, along with lucrative commissions for recruiting others.
In reality, the FTC says the business relied on exaggerated or baseless income claims, with few consumers making real money. Since 2018, total consumer losses linked to the scheme have exceeded $1.2 billion, the agency alleges.
Luxuries, lies, and MLM profits
Brown and Rosa, described as among the highest-paid promoters in the scheme, allegedly pocketed more than $36 million in profits—most of it funneled through their company, Global Dynasty Network. The FTC says Brown even hired a third party to post fake positive reviews online under a pseudonym to boost the company’s image.
Their promotional strategy relied heavily on aspirational lifestyle marketing, including posts on Instagram and TikTok showcasing luxury cars, international travel, and high-end shopping—implying that these were funded by trading gains or MLM commissions. In reality, many participants lost money or failed to earn back their initial investment.
The defendants also trained other marketers to make similar deceptive claims while avoiding detection, the complaint says.
Content retrieved from: https://www.consumeraffairs.com/news/ftc-cracks-down-on-im-mastery-academy-founders-in-12-billion-fraud-case-080825.html.
