On November 7, 2025, a U.S. District Court in Nevada made the temporary receivership permanent for Iyovia (formerly iMarketsLive and IM Mastery Academy), freezing all assets of defendants Chris Terry, Isis Terry, and related entities, per the FTC’s 87-page order. The ruling cites “good cause” to believe the Terrys engaged in ongoing violations of the FTC Act (15 U.S.C. § 45(a)), Telemarketing Sales Rule (TSR, 16 C.F.R. Part 310), Restore Online Shoppers’ Confidence Act (ROSCA, 15 U.S.C. § 8403), and Nevada Revised Statutes Chapter 598. The court found the defendants likely to continue “hiding and dissipating assets” if not relieved of control, mandating repatriation of foreign holdings and appointing a receiver to preserve funds for potential consumer redress.
The FTC and Nevada Attorney General’s May 2025 complaint accuses Iyovia of a multi-level marketing (MLM) scam defrauding over $1.2B from consumers since 2018 through deceptive earnings claims and unauthorized subscriptions. The scheme targeted young, vulnerable demographics, including Black consumers, with false promises of financial freedom via forex and crypto trading education. Top promoters like Jason Brown, Alex Morton, Matthew Rosa, and Brandon Boyd allegedly pocketed millions, while Chris Terry received at least $20M. Violations include unsubstantiated income claims, failure to disclose risks, and negative-option billing, disproportionately harming young adults.
The Terrys, Iyovia’s owners, face scrutiny for asset dissipation post-preliminary injunction, including transferring funds to offshore entities and sham transactions. The August 2025 preliminary injunction required asset preservation and a monitor, but the court found non-compliance, leading to the permanent receivership. Isis Terry, previously Isis de la Torre, is named for her role in operations. The order bars the defendants from further violations and mandates cooperation with the receiver, who will oversee asset liquidation for victim restitution.
Several defendants have settled: Global Dynasty Network, Jason Brown, and Matthew Rosa in August 2025; Alex Morton and Brandon Boyd in September 2025. The Terrys remain defiant, with Chris Terry previously stating the FTC targets “historical claims.” Parallel U.S. federal tax fraud probes and state investigations continue, with a victim claim portal closed May 22, 2025. Criminal charges under 18 U.S.C. § 1343 (wire fraud) are possible if asset hiding is proven.
The permanent receivership likely forces a settlement, aligning with other defendants, potentially releasing $500M+ in refunds by 2026. However, the Terrys’ evasion tactics raise recovery doubts. Investors should file claims via the FTC portal and verify MLMs through ftc.gov. Bitcoin (BTC) at $113,234 and Ethereum (ETH) at $4,070 remain stable, but Iyovia’s fallout highlights MLM risks. Diversify into USDC or ETH with stop-losses below BTC’s $112,000, per TradingView. Follow @TheBlock__ on X for updates.
