The Office of Competition and Consumer Protection in Poland has issued a pyramid fraud notice to IM Mastery Academy (UOKiK).
On August 17th, Tomasz Chrostny, President of UOKiK, identified IM Mastery Academy as “International Markets Live from New York.”
I’m alerting customers about the (IM) academy platform.
I accuse the firm in charge of developing, operating, and pushing a pyramid-type promotional structure. It is illegal and considered an unfair business practice.
UOKiK reached this conclusion after conducting an inquiry.
The system’s organizer and those promoting the (IM) Academy platform are primarily concerned with marketing and attracting new members.
On the other hand, (the0 instructional activities are “secondary” and are intended to create the illusion of the project’s legality while hiding the true purpose, which is to earn money from platform users.
This is a typical product-based pyramid scam. In our December 2019 IM Mastery Academy review, BehindMLM suggested the same idea.
Chrostny explained why UOKiK is advising customers about IM Mastery Academy.
These kinds of networks require a steady influx of new members and their money.
In the long term, this is not viable; such a system would collapse and customers would lose money.
There is a substantial chance that this will also be the case, which is why the customer has been warned.
Pyramid schemes are prohibited in Poland. If additional action is taken, IM Mastery Academy faces disgorgement as well as a 10% fine based on the overall amount of harm caused to customers.
According to SimilarWeb, the leading sources of traffic to IM Mastery Academy’s website are Italy (15%), Chile (12%), Germany (11%), and the United States (11%).
In 2018, the US government initiated action against iMarketsLive. This resulted in a shift in recruiting focus away from the United States, as well as the relaunch of the IM Mastery Academy in 2019.
So far, Peru and Colombia have issued IM Mastery Academy fraud warnings, while Spanish police detained eight local executives a few months ago.
Chris and Isis Terry of New York own IM Mastery Academy. US authorities have not visited the firm since.