Chris and Isis Terry Sold $1.2 Billion in Trading Courses. A Yacht, 19 Cars and Eight Homes Are Now Going Back.

The inventory list reads like an auction catalogue: eight luxury homes in New York, Nevada, Florida and Dubai; 13 home lots in a high-end 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.

All of it belonged to the people behind one of the biggest paid-education businesses ever built. All of it is now being liquidated to pay back their customers.

The Federal Trade Commission and the State of Nevada required five individual and corporate IM Mastery Academy defendants, including the pair the agency calls ringleaders, Chris and Isis Terry, to surrender assets valued at nearly $90 million to resolve charges that they used false or baseless earnings claims to persuade people to pay for financial training programs and a multi-level-marketing business venture. The order imposes a $795.8 million judgment.

The business was enormous

This was not a small operation getting caught. The May 2025 complaint alleged the scheme — operating most recently as IYOVIA, and previously branded IM Mastery Academy, iMarketsLive and IM Academy — used false or baseless earnings claims to sell training on how to invest in financial markets, and generated more than $1.2 billion since 2018.

The complaint says the training products cost as much as $400 a month. IYOVIA's own records, according to the government, showed 60% of customers canceled within one month and 90% quit within six.

That second number is the whole story. A product almost nobody kept, sold at subscription prices, to an audience that kept refilling. The complaint quotes Chris Terry telling a co-defendant: "That's the great thing about network [marketing] … They keep making new 18 year olds everyday."

Read the mechanism, not the money

The interesting part for anyone selling knowledge is what the agencies actually objected to.

First, the claims. Regulators said the defendants focused their deceptive marketing on young people and used social media posts flaunting luxurious and expensive lifestyles, purportedly funded by trading profits and multi-level-marketing commissions. The Lamborghini video was not decoration. It was the earnings claim.

Second, the teachers. The FTC contended that many of the so-called "educators" lacked formal training or verifiable trading success. Consumers typically first heard about the company through social posts, often featuring supposedly successful trades made using its training, shared by company salespeople. When they responded, they were invited to sales events or called by salespeople pitching programs costing up to $400 per month. Instruction and commission were the same job.

That is the compliance line, and it runs straight through a lot of legitimate course marketing. The Terrys are now permanently prohibited from a range of conduct including making earnings claims without proper substantiation, and permanently banned from selling trading-training services and investment opportunities.

Where the money goes

The value of assets surrendered by the Terrys, combined with judgments already paid by other defendants, is expected to total more than $100 million. The remainder of the judgment is suspended after those transfers, but becomes due in full if the defendants are found to have lied to the agencies about their finances. A court-appointed trustee handles the liquidations, and the FTC handles distribution of the proceeds as restitution.

The sales force paid too. Alex Morton, the company's executive vice president of sales, will pay $10 million against a $76.2 million judgment; salesman Brandon Boyd pays $500,000 against $6.3 million; Jason Brown, Matthew Rosa and their company Global Dynasty Network together pay $2.5 million against $36 million. Total judgments in the case now exceed $914 million, though only a fraction will ultimately be paid.

Nevada's attorney general said more than 5,000 Nevadans were affected, with estimates that as much as $9 million was taken from state residents alone. That is one state out of a global customer base.

"Consumers should be cautious when encountering money-making opportunities that promise significant earnings, especially those spread on social media," said Christopher Mufarrige, director of the FTC's Bureau of Consumer Protection.

As MLM watchdog BehindMLM noted, there are no criminal charges publicly attached to the case; indictments could follow, but the FTC's filings gave no indication. The trustee's sales continue, and the refund checks have not gone out yet.