Three IM Mastery Academy promoters charged in Poland
Three IM Mastery Academy promoters in Poland have been charged with promoting a pyramid scheme.
The Office of Competition and Consumer Protection (UOKiK), filed charges after issuing an IM Mastery Academy fraud warning in July 2022.
In an August 30th communication, UOKiK President Tomasz Chróstny announced charges against Grzegorz Baryla, Franciszek Rumak and Łukasz Spórna.
Chróstny claims the trio, in spite of UOKiK’s warning, continued to promote “IM.Academy, (a) project pretending to sell educational packages in the field of finance and e-commerce.”
This company is known to the Office of Competition and Consumer Protection for the proceedings conducted since July 2022 regarding the establishment and promotion of a pyramid-type promotional system.
Under Polish law, UOKiK has the power to fine promoters of MLM pyramid schemes 10% of ill-gotten gains.
IM Mastery Academy is a US MLM company. BehindMLM’s IM Mastery Academy review cited both pyramid and securities fraud concerns.
While we do know the FTC are investigating IM Mastery Academy, there have been no further updates since May 2023.
Lol. Ok dude, You seriously lose credibility here.
That is complete and utter rubbish. I can 100% verify that ALL they do is have a Forex Training Program taking you from having zero knowledge of Forex training to moving into advanced concepts.
They have a lot of professional traders that have to prove themselves for years as profitable and good traders before being allowed to do live sessions for TRAINING purposes only.
I have NEVER seen them promoting any kind of e-commerce program.
If these people charged have any kind of real attorney it will be laughed out of the courts because it is made abundantly clear that this is an educational platform for Forex trading. If YOU bothered to sign up and actually look YOU would know that is what they do as well.
I wish you well but you really should verify things before posting something like this. There is no pyramid scheme involved.
Yes if you bring 2 people on board for the training you can get your monthly fee waived. But that is not a pyramid.
If I had to guess the MLM opportunity itself is what UOKiK has correctly classified as ecommerce.
The FTC are investigating IM Mastery Academy. They will likely file pyramid fraud charges at some point.
I say this having reviewed IM Mastery Academy’s business model. BehindMLM’s IM Mastery Academy review also documented securities fraud.
Outside of the US and Poland IM Mastery Academy has attracted regulatory attention in Peru (banned), Colombia, Spain (arrests) and Luxembourg.
Nobody said a recruitment incentive alone made IM Mastery Academy a pyramid scheme. As per the FTC Act, MLM companies without significant retail activity operate as pyramid schemes.
A $249 a month subscription is not retail viable. It’s pretty obvious the majority of $249 a months subscriptions are held by IM Mastery Academy affiliates (hello recruitment incentives).
The only way a company could be classified as a pyramid is if they did not offer legitimate products OR services. IM Academy only offers a service for learning how to trade the Forex markets and for access to live professional traders platform to learn how to analyze the markets.
But even these guys state that they are not giving financial advice. They are there to teach what they do and trades they would look at taking themselves.
Yes, IMarkets Live had to shut down because they WERE offering trading services, direct signals and a bot of some sort I guess. I’m not too familiar with all that from back then.
I cannot find any active investigation into IM Academy by the FTC, if you have that information I would love to read it.
What securities fraud? In order to have a securities fraud you would need to be taking people’s funds for trading purposes. To my knowledge being in the program, they do not do this anywhere. It is purely educational products.
So again, if you have some kind of proof on this, please share those details. I see nothing in your review that points to any kind of potential securities fraud.
Why do you not find a $249 per month subscription to be retail viable? It’s actually not that much depending on what you subscribe to but that is irrelevant.
You are learning a skill that has made millions of people millionaires by mastering it. You are not required to keep that subscription any longer than you find it useful to have access to the trainings and information.
When you become proficient at trading, whether that is in 1 month or 10 years, you can cancel out and no long pay yet you retain the skills to continue making money.
BTW, I appreciate having a civil discourse and discussion. If there are legitimate facts I can read I am completely open to it.
But I will say that I have learned more in the last 2 months than I have in 10 years dabbling in Forex on my own.
False. Every MLM company the FTC has gone after for being a pyramid scheme in the past few decades has had “legitimate products or services”.
If you don’t have significant retail sales of said products or services, you’re running a pyramid scheme.
BehindMLM identified securities fraud in IM Mastery Academy’s offering in our review.
IM Mastery Academy Review: iMarketsLive rebooted
FTC seeking info from IM Mastery Academy’s Matthew Thayer
This isn’t a thing. You can’t disclaimer your way out of giving financial advice.
For starters affiliates would need to recoup over $2500 annually just to make back their subscription.
1. Read our review.
2. False. You just need to be offering a security (ability to earn a passive return in this instance).
Feel free to provide evidence a single person in IM Mastery Academy has made a million dollars trading as opposed to recruiting.
@ IM Academy Client
Scammers always looking for guys like you.
This people are scammers.