Summary of Action investigated International Markets Live, Inc., otherwise known as iMarketsLive, IML, or IM Mastery Academy, a New York-based multi-level marketing company that sells Forex and cryptocurrency trading software and educational products, and uses unsubstantiated and exaggerated income claims to market its business opportunity.

Specifically, IML (led by its CEO Chris Terry since 2013) and its distributors have claimed that participants make five-figures per month and millions of dollars per year, travel the world, and buy luxury vehicles and other expensive items, among other things. Such claims completely contradict the company’s 2018 Income Disclosure Statement, which indicates that the vast majority of its distributors – 95 percent – averaged an income of less than $300 in 2018, and that is without accounting for expenses, including, but not limited to, any monthly costs required to earn commissions. compiled more than 250 examples of such inappropriate income claims.

As a result of these findings, filed a complaint with the Direct-Selling Self Regulatory Council (DSSRC) on December 5, 2019 urging it to take action. On September 9, 2020, the DSSRC issued a decision finding that IML and its distributors were making inappropriate income claims to promote the company’s business opportunity and recommending that the company “engage in effective training and monitoring of its [distributors] and use appropriate enforcement procedures to provide reasonable assurance that earnings claims made by its [distributors] are substantiated, contain appropriate disclosures and are not misleading.”

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