Brandon Boyd has settled allegations of defrauding consumers through Iyovia with the Federal Trade Commission (FTC) for a stipulated judgment of $6.3 million. Financial disclosures submitted to the FTC on June 4th revealed Boyd will only pay $500,000 of the total. The settlement order was filed on August 20th.

The FTC’s action stems from a larger complaint filed in May against Iyovia, its owners Chris and Terry Isis, and several promoters, including Boyd. The agency alleges these individuals swindled consumers out of more than $1.2 billion. Boyd has a long history with the enterprise, participating across its various iterations, including iMarketsLive and IM Mastery Academy.

Under the terms of the stipulated order, Boyd faces permanent prohibitions. He is barred from providing any instruction or education related to what the order defines as "Trading Training Services." This definition broadly covers any product or service marketed as teaching consumers how to trade in financial markets, including foreign exchange, binary options, cryptocurrency, and stock markets. Boyd also cannot assist others in offering such services or represent himself as an instructor. Furthermore, he is prohibited from owning any company involved with Trading Training Services.

Additional injunctions restrict Boyd from making deceptive claims. He cannot misrepresent earnings potential, goods or services, or the experience level, time commitment, or capital required for consumers to effectively use any offering. Claims that government entities are auditing or reviewing a product or service are also forbidden. The settlement addresses "Negative Option Features," where a consumer’s inaction is treated as acceptance, preventing Boyd from misrepresenting these practices if applicable. He is also prohibited from benefiting from customer information obtained through Iyovia.

Specific to telemarketing practices, Boyd is now forbidden from misrepresenting earning potential or profitability. He cannot make false or misleading statements about the performance, efficacy, nature, or core characteristics of goods or services being sold. Inducing consumers to pay for products or services through false statements is also prohibited, as are further violations of the Telemarketing Sales Rule.

Boyd’s compliance obligations extend for ten years, requiring detailed reporting. He must also maintain records for five years. Cooperation with the FTC’s ongoing Iyovia investigation is also mandated if requested.

The FTC is continuing its litigation against Iyovia and its principals. Promoters Jason Brown and Matt R. are also named in the agency's complaint.