Four days after Luxembourg’s Commission de Surveillance du Secteur Financier issued a
securities fraud warning
, IM Mastery Academy held a marketing event in Kirchberg on May 29th.
Police raided the event, which targeted “young students”, after receiving complaints from parents.
The raids led to the arrest of several organizers of the event. IM Mastery Academy’s founder Chris Terry doesn’t appear to have been in attendance.
As
reported by Today
on June 7th, following the arrests Kirchberg Police confirmed;
An investigation has been launched for, among other things, failure to obtain an establishment permit.
The initiation of the investigation has been reported to the Public Prosecutor’s Office, which has subsequently issued an order for the seizure of relevant documents.
The arrested IM Mastery Academy leaders haven’t been publicly named.
A preliminary investigation into IM Mastery Academy has thus far revealed IM Mastery Academy is
targeting young secondary school students, enticing them with promises of stock market training in exchange for monthly payments.
The police have warned that involvement with such “academies” can have detrimental consequences for young people, leading some to abandon their education in pursuit of quick and effortless money-making opportunities.
IM Mastery Academy specifically targeting young people is believed to be the work of Alex Morton.
Morton developed the same marketing strategy in his previous company, Vemma. In Vemma Morton targeted students under “Young People’s Revolution” branding.
The FTC sued Vemma for being a pyramid scheme in August 2015. In doing so, the regulator specifically
called out Morton’s marketing strategy
;
Vemma Nutrition Company, that lures college students and other young adults with the prospect of getting rich without having a traditional 9-to-5 job.
The FTC seeks to stop the operation, which earned more than $200 million annually in 2013 and 2014 and has affected consumers throughout the United States and in more than 50 other countries, from continuing as an unlawful pyramid.
Swap out energy drinks for
forex education and securities fraud
, and this is pretty much what Morton has continued with IM Mastery Academy.
As to why IM Mastery Academy held a marketing event after
CSSF issued a fraud warning
, they were probably expecting a repeat of Spain.
Following the
arrest of top IM Mastery Academy leaders in Spain
in March 2022, a marketing event was
held in Barcelona
later that same month. Spanish authorities failed to intervene.
Turns out Luxembourg wasn’t willing to turn the same blind eye to fraud Spanish authorities did.
IM Mastery Academy’s next major marketing event is scheduled for early September in Croatia.
In the US, IM Mastery Academy and Chris Terry are the subject of an ongoing
FTC consumer protection investigation
.
🤖 Quick Answer
What happened at the IM Mastery Academy event in Luxembourg?Police raided a marketing event held by IM Mastery Academy in Kirchberg on May 29th, targeting young students. Several event organizers were arrested following complaints from parents. Authorities launched investigations into securities fraud allegations and failure to obtain establishment permits, with documents subsequently seized by the Public Prosecutor's Office.
Why did Luxembourg authorities take action against IM Mastery Academy?
The Commission de Surveillance du Secteur Financier had issued a securities fraud warning four days before the event. Parents filed complaints about the marketing event's practices targeting young students, prompting police intervention and subsequent arrests of event organizers.
Was IM Mastery Academy's founder Chris Terry arrested?
No official reports indicate that Chris Terry, the founder of IM Mastery Academy, was present at the raided event in Kirchberg or arrested during the
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