- Iyovia: Rebranded from IM Mastery Academy, accused by Bolivia’s ASFI and the U.S. FTC of running a $1.2 billion pyramid scheme since 2018. Terminated MLM operations on May 23, 2025.
- Tmall Cinema: A “click a button” app Ponzi scheme targeting Bolivians, now collapsed with withdrawals disabled.
Tmall Cinema: A Collapsed Ponzi Scheme
Tmall Cinema, identified by ASFI as another pyramid scheme, operated as a “click a button” app promising easy profits. Such apps typically lure users with minimal-effort investment opportunities, only to collapse when new investor funds dry up. Tmall Cinema’s disabled withdrawals confirm its failure, leaving participants unable to access their money. This aligns with classic Ponzi scheme traits, where returns for early investors are paid using funds from new recruits, not legitimate profits.
Warning Signs
- Promises of easy wealth with minimal effort.
- Focus on recruiting others rather than selling a legitimate product.
- Lack of transparency about leadership or regulatory compliance.
- Unlicensed operations or regulatory warnings from authorities like ASFI or FTC.
Action Steps
- Check Regulatory Status: Verify if the company is licensed with financial regulators.
- Avoid High-Pressure Tactics: Legitimate businesses don’t rush you to invest.
- Research Online: Look for warnings or lawsuits on sites like ftc.gov or behindmlm.com.
- Report Scams: Contact ASFI (Bolivia) or FTC (U.S.) if you suspect fraud.
What’s Next?
Iyovia’s MLM operations have ceased, and its future as a DTC business looks bleak given its lack of a retail customer base and the looming FTC lawsuit. Tmall Cinema’s collapse further underscores the fragility of Ponzi schemes. For Bolivian consumers, ASFI’s warning is a call to action to steer clear of such scams. Globally, the FTC’s case may prompt stronger regulatory action against MLMs, but consumers must remain vigilant.