A complaint filed in May 2026 alleged that a business using the name IYOVIA (formerly known as IM Mastery Academy) made unsupported and misleading income claims to sell financial training, leaving buyers feeling scammed. 

What happened?

According to KOLO, Nevada Attorney General Aaron Ford announced Thursday that defendants identified only as Chris and Terry will surrender a wide range of assets to resolve scam-related allegations brought by the state and the Federal Trade Commission. 

Ford said that comparable income pitches were used to bring people into a multilevel marketing operation centered on reselling that same training to others. More than 5,000 Nevadans were affected, losing up to $9 million.

The settlement includes a $795.8 million judgment. The agreement requires the defendants to give up assets, such as eight luxury homes across New York, Nevada, and Florida, 13 residential lots in luxury Las Vegas developments, 19 vehicles, a yacht, and jewelry. 

Whatever remains of the judgment will be put on hold, unless regulators later find the defendants were untruthful about their finances.

Why does it matter?

"Easy money" promises can become costly when people are pressured into buying courses, memberships, or business opportunities that fail to deliver as advertised.

Losses can quickly strain household finances, especially for families trying to build savings or pay off debt. Even smaller recurring fees can pile up over time, and complicated cancellation processes can make it harder for consumers to stop the drain.

Some companies market financial education in ways that blur into high-pressure sales tactics. When regulators move against misleading income claims, the public becomes more knowledgeable about potential scams, and companies are deterred from using similar tactics. This helps to stop people from spending money on products that overpromise and underdeliver.

What can people do?

The settlement does more than force a significant asset surrender; it also blocks the defendants from offering trading-related training services or pitching investment opportunities, cutting off the core business activities at the center of the allegations. 

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

Whether it's being aware of potential scams involving solar panel installations, those "too good to be true" deals around holidays, or investment training, it's important for consumers to do their due diligence on the products or services they are buying.   

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