Attorney General Ford Announces Defendants in IM Mastery Scam Will Turn Over Nearly $90 Million in Assets to Compensate Victims

Carson City, NV - Today, Nevada Attorney General Aaron D. Ford announced that the primary defendants in the State of Nevada and Federal Trade Commission's case against IYOVIA, including scam ringleaders Chris and Isis Terry, will surrender assets worth nearly $90 million to resolve charges related to their investment training and business venture scam that fleeced consumers around the country, including in Nevada.

Over 5,000 Nevada consumers were impacted by the scheme, with estimates showing up to $9 million was taken from residents of the state. The scheme's marketing was heavily aimed at young adults; communities of color; and people who were looking for opportunities for economic stability.

"My office doesn't just stop scams. We are committed to securing justice for Nevadans and helping families recover their hard-earned money," said Attorney General Ford. "I will always hold companies accountable when they use deceptive practices to harm our communities."

In a complaint filed in May 2025, the Office of the Attorney General and the FTC alleged that the scheme - most recently branded IYOVIA but also called IM Mastery Academy, iMarketsLive and IM Academy in the past - used use false or baseless earning claims to entice consumers to purchase training on financial topics. The scheme also used similar claims to persuade consumers to buy into their multi-level-marketing business venture, which involves marketing the scheme's training services to others.

The proposed order announced today resolving the allegations against the five main defendants in the case, including the Terrys, imposes a $795.8 million judgment. To partially satisfy this judgment, the defendants will be required to surrender a wide range of assets, including: 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 value of the assets to be turned over by the Terrys, combined with the monetary judgments already paid by other defendants, is expected to total more than $100 million. The remainder of the judgment will be suspended following these transfers, but the total amount will be due if the defendants are found to have lied to the agencies about their finances. A trustee appointed by the court will handle the asset liquidations, and the FTC will handle distribution of the proceeds as restitution.
In addition to the monetary judgment, the order:

• Bans the defendants from the sale of trading-training services and investment opportunities;
• Prohibits them from making false earnings claims and requires that they have a reasonable basis for all earning claims when they are made;
• Prohibits them from making other misrepresentations related to goods or services, including the level of experience required for consumers to effectively use the good or service, any aspect of a refund or cancellation policy, or any other restrictions, limitations or conditions;
• Prohibits misrepresentations regarding goods or services sold with a negative-option feature and requires certain disclosures regarding goods or services sold with a negative-option feature;
• Requires the defendants to obtain express informed consent before charging consumers for goods or services sold with a negative option feature;
• Requires the defendants to have a simple cancellation mechanism when using negative-option features; and
• Prohibits a range of misleading and deceptive practices regarding telemarketing and bars the defendants from violating the Commission's Telemarketing Sales Rule.

Find a copy of the stipulated judgment here.

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