Iyovia has received a pyramid fraud warning from Bolivia’s Autoridad de Supervision del Sistema Financiero (ASFI).

As per the ASFI’s May 1st warning…

…Iyovia is accused of running a “fraudulent pyramid scheme”. The ASFI goes on to advise Bolovian consumers to “avoid investing their resources” into Iyovia.

ASFI also cites TMall Cinema as a pyramid scheme. Tmall Cinema appears to be a collapsed “click a button” app Ponzi targeting Bolivia (website still up, withdrawals disabled).

Iyovia is a rebranding of IM Mastery Academy, seemingly in an attempt to get in front of an ongoing FTC investigation last year.

The FTC eventually filed suit against Iyovia and founders Chris and Isis Terry on May 1st, the same day ASFI’s warning came out.

Through multiple acts of fraud dating back to “at least 2018”, the FTC has accused Iyovia of defrauding consumers out over $1.2 billion.

Iyovia subsequently collapsed last week. No public announcement has been made.

Instead, Iyovia quietly emailed promoters on May 15th to advise MLM operations would be terminated on May 23rd.