Brandon Boyd has settled Iyovia fraud allegations with the FTC for $6.3 million.
Boyd’s monetary judgment was part of a stipulated order settlement, filed on August 20th.
Based on June 4th financial statement provided to the FTC, Boyd (right) will only pay $500,000 of his $6.3 million judgment.
In addition to the monetary penalty, Boyd is permanently prohibited from:
“providing instruction or education related to Trading Training Services;
“assisting others in the provision of instruction or education related to Trading Training Services”;
“representing that he is a Trading Training Services instructor or educator”;
“assisting others in representing that he is a Trading Training Services instructor or educator”; and
owning a company that has anything to do with Trading Training Services
Boyd’s stipulated order defines “Trading Training Services” as;
any product or service, including any program or plan, that is represented, expressly or by implication, to train or teach a consumer how to trade in any financial market, including the foreign exchange, binary options, cryptocurrency, or stock markets.
Getting back to Boyd’s injunction restrictions, he’s also permanently prohibited from:
making misleading and/or unsubstantiated earnings claims;
misrepresenting goods or services;
misrepresenting “the level of experience for consumers to effectively use the good or service”;
misrepresenting “the time or effort required for consumers to effectively use the good or service”;
misrepresenting “the amount of capital required for consumers to effectively use the good or service”;
claiming that “any government entity is auditing or reviewing the good or service or
representations regarding the good or service”;
misrepresenting a “Negative Option Feature”, if applicable’; and
benefitting from Iyovia customer information
A “Negative Option Feature” is where a consumer’s inaction is deemed acceptance of an offer (in other words, permission to continue charging the consumer).
Specific to telemarketing, Boyd is prohibited from:
“misrepresenting earnings potential or profitability”;
“misrepresenting any material aspect of the performance, efficacy, nature, or central characteristics of goods or services that are the subject of a sales offer”;
“making a false or misleading statement to induce any Person to pay for goods or services”; and
committing additional violations of the Telemarketing Sales Rule
Boyd is subject to compliance reporting for ten years and recordkeeping requirements for five years.
Boyd will also have to cooperate with the FTC with their Iyovia case if required.
The FTC
sued Iyovia, owners Chris and Terry Isis and several promoters
back in May. The FTC alleges Boyd and other Iyovia promoters swindled consumers out over $1.2 billion.
Boyd is a longtime Iyovia promoter, having been with the company across its iMarketsLive and IM Mastery Academy iterations.
In addition to Boyd, Iyovia promoters
Jason Brown and Matt R
🤖 Quick Answer
What was the outcome of Brandon Boyd's settlement with the FTC over Iyovia fraud allegations?Brandon Boyd settled Iyovia-related fraud allegations with the Federal Trade Commission for a stipulated monetary judgment of $6.3 million. Based on financial disclosures submitted to the FTC on June 4th, Boyd is required to pay only $500,000 of the total judgment. The stipulated order was filed on August 20th.
What permanent restrictions were imposed on Brandon Boyd under the FTC settlement?
The settlement permanently prohibits Boyd from providing instruction or education related to Trading Training Services, assisting others in offering such services, representing himself as a Trading Training Services instructor or educator, and owning any company involved in Trading Training Services.
Who is Brandon Boyd in the context of the FTC Iyovia fraud case?
Brandon Boyd is an individual who faced fraud allegations brought by the Federal Trade
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