Collapsed billion dollar MLM pyramid scheme Iyovia is failing to meet its financial obligations.

Iyovia customer data is also being deleted and Iyovia co-founders Chris and Isis Terry have gone underground.

On June 11th Iyovia defendant Brandon Boyd requested “nearly four months to respond” to the FTC’s motion for a preliminary injunction.

Chris Terry, Isis Terry and the Iyovia corporate defendants (aka IML Defendants) joined Boyd’s motion.

The FTC filed its opposition on June 16th;

Defendants have illegally taken over $1.242 billion from over 2.4 million individual consumers since 2018, including over $535 million taken from over 890,000 individual U.S. consumers.

Plaintiffs have already stipulated to, and this Court has entered, an extension providing all Defendants 14 additional days, until June 27, to respond to the PI Motion.

The IML Defendants and Brandon Boyd (“Moving Defendants”) now seek a far lengthier extension of time, requesting nearly four months to respond, or, in the alternative, an additional 60 days.

Moving Defendants fail to provide good cause for why the Delay Motions should be granted.

Boyd and the joinder Iyovia defendants claim they need four months “to rebut the evidence Plaintiffs submitted in support of the PI Motion.”

The FTC argues

most of that evidence comes directly from the Moving Defendants’ own files, which they previously produced to the FTC in response to civil investigative demands (“CIDs”).

Moving Defendants should be well-versed in the experiences of their own customers, and the IML Defendants have access to their own financial data and their customer and salesperson databases.

Emphasising the urgency behind its request for an Iyovia preliminary injunction, the FTC documents years of alleged fraud and deceptive conduct.

Prompt resolution of the PI Motion is necessary to prevent further consumer injury and ensure the preservation of relevant evidence and Moving Defendants’ assets.

Moving Defendants have repeatedly shown disdain for law enforcement and have brazenly continued their unlawful conduct while acknowledging its illegality.

Moving Defendants have sought to evade law enforcement oversight through various tactics, including by changing their scheme’s name and by directing their salespeople to not useIML’s name in  their deceptive marketing.

Moving Defendants have repeatedly flouted the law. Without a preliminary injunction in place, it is highly likely that Moving Defendants will continue to engage in illegal and deceptive practices.

Communications between Chris Terry and Jason Brown cited by the FTC indeed paint a damning picture.

In late 2018, shortly after the Commodity Futures Trading Commission announced an administrative action against International Markets Live, Inc. (“IML”) for illegally offering foreign exchange and binary options to retail investors, Defendant Christopher Terry, CEO of IML, informed Defendant Jason Brown
“I am gonna come up with a new [company] name… We wil

🤖 Quick Answer

What is Iyovia and why did it collapse?
Iyovia, formerly known as iMarketsLive (IML), was a billion-dollar multi-level marketing operation that the U.S. Federal Trade Commission classified as a pyramid scheme. The FTC alleges Iyovia illegally collected over $1.242 billion from more than 2.4 million consumers worldwide since 2018, leading to its regulatory shutdown.

Who are the founders of Iyovia and what is their current status?
Iyovia was co-founded by Chris Terry and Isis Terry. Following the FTC enforcement action, both co-founders reportedly went underground and became unresponsive to public communications. They joined co-defendant Brandon Boyd's motion requesting extended time to respond to the FTC's preliminary injunction.

What financial obligations has Iyovia failed to meet?
Following its collapse

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