FTC and Nevada Lawsuit Targets IML for Alleged $1.2 Billion Cryptocurrency Fraud

The U.S. Federal Trade Commission (FTC) and the state of Nevada have filed a lawsuit against IML, alleging that the company defrauded consumers through deceptive advertising practices related to cryptocurrency, forex, binary options, and stock trading courses. Since 2018, IML is accused of stealing approximately $1.2 billion from unsuspecting individuals, operating under different names such as IM Mastery Academy and iMarketsLive. The lawsuit was filed on May 2nd.