Christopher “Chris” Terry and Isis Terry, f/k/a Isis De La Torre, ran one of the largest multi-level marketing frauds in history, stealing over $100 million through iMarketsLive, IM Mastery Academy, and IYOVIA while enriching a network of top promoters who collectively pocketed hundreds of millions. The Federal Trade Commission and Nevada filed suit in May 2025 alleging the scheme defrauded consumers of $1.242 billion since 2018 through false earnings claims for trading education that promised financial freedom but delivered losses to most participants.
The FTC complaint names ten defendants including the company’s key officers Jason Brown, Alex Morton, Matthew Rosa, and Brandon Boyd, all of whom made millions hawking worthless training while knowing most customers would fail. When federal investigators secured asset freezes and a court-appointed receiver inspected the Terrys’ properties in November 2025, they discovered a staggering empire: $94 million in real estate spanning New York, Nevada, Florida, Dubai, and Manhattan, seven luxury vehicles at a single property including multiple Rolls Royces and Lamborghinis, and hundreds of thousands in designer goods hidden in basement wine cellars.
Chris Terry lives openly with his girlfriend Keishia McLeod in an 11,388-square-foot Henderson mansion titled in her name, while his wife Isis—whom he married purely for “asset protection” as he texted multiple women—occupies a 12,000-square-foot Mount Kisco estate where she threw keys at investigators and concealed jewelry worth millions.
The scheme deliberately targeted young people, disproportionately harming Black and Latino consumers through social media posts flaunting luxurious lifestyles purportedly funded by trading profits. Chris Terry wrote to Jason Brown: “That’s the great thing about network [marketing]…They keep making new 18 year olds everyday.” The operation employed a cast of promoters who made deceptive earnings claims while aware the vast majority of participants lost money—internal data showed only 20 percent of salespeople earned more than $500 annually, with the median distributor making nothing.
The Top Earners: Morton, Brown, Rosa, and Boyd
Alex Morton emerged as the operation’s highest-paid promoter, extracting over $76 million according to the FTC complaint. Serving as Executive Vice President of Sales and holding “Chairman Elite” status, Morton made deceptive earnings claims to lure consumers while receiving up to $10,000 monthly in reimbursed “travel and entertainment” expenses. He knew of deceptive claims by other salespeople and “advised top salespeople on how to post deceptive earnings claims online in ways that will evade IML’s compliance program and law enforcement.” Morton had previously worked at Vemma, which the FTC shut down in 2015 as a $200 million pyramid scheme after directing marketing efforts at college students. He settled with the FTC in 2025, agreeing to a $76.2 million judgment with $10 million paid, and is permanently banned from multilevel marketing of trading-training services.
Jason Brown served as Vice President of Field Operations and co-owned Global Dynasty Network LLC with Matt Rosa, through which they received over $33 million. Brown “hired a third party to post fake positive reviews about IML under a pseudonym” and “directed IML’s compliance consultant to find ways to disable the social media accounts of individuals who have criticized IML’s practices online,” according to FTC filings. He advised top salespeople on evading law enforcement and discussed with Chris Terry how to handle deceptive earnings claims. When shown evidence that promoters were targeting young Black consumers, Brown responded “Lol” to a text explaining the demographic needed to “see a [Black person] come up” and that promoting the “highest paid African American in industry” would attract them. Brown and Rosa settled for $36 million with $2.5 million paid.
Brandon Boyd worked as an IML instructor despite having no professional licenses or accreditations and maintaining a single trading account valued under $1,600. His training consisted entirely of watching IML-produced videos according to his discovery responses. Boyd narrated training videos teaching consumers how to recruit others and made deceptive earnings claims while aware of similar claims by other instructors. He regularly appeared at company conventions providing financial education to paying customers. Boyd settled for a $6.3 million judgment with $500,000 paid.
The Cast of Fraudsters and Enablers
David Imonitie, a Black promoter, received over $30 million while being deliberately featured in marketing targeting Black consumers. When Jason Brown was asked why IML should send Imonitie to a St. Louis event, a salesperson responded that the demographic was Black and “they need to see a [Black person] come up.” Imonitie later left to launch his own IM Mastery Academy clone called Nvisionu in mid-2022.
Matthew Thayer served as a celebrated instructor between 2018 and 2021, with Chris Terry and other leaders lionizing his trading prowess. Boyd urged the salesforce to post Thayer’s results weekly because that would “attract[] people to USE our services.” IML eventually discovered Thayer was “doctoring his trading results, entering into undisclosed arrangements with unregulated offshore trading platforms, and that his ‘$15 million trading account’ was fake,” according to FTC documents. When IML terminated Thayer, executives worked to cover up the scandal. Jason Brown implored fellow salesmen to “please DO NOT screen shot and do not blast this in public.”
Anita “Ari” Barton served as Director of Education, Product Development, and Regulatory Compliance. When the Thayer scandal emerged, Barton warned that disclosure would be “a public reputation nightmare” especially since “the broker interface was displayed on GoLive during [Thayer’s] sessions.” Barton prepared compliance reports detailing deceptive practices by top earners including Jaylin Goss, who in September 2021 faced allegations of soliciting minors and engaging in PPP loan fraud while encouraging participants in similar fraud. Despite five outstanding complaints, Terry’s response was simply to tell Bryce Thompson to have Goss “clean up income claims and minors.” Goss continued receiving payments until April 2022.
Lisaldo Tavarez and Gustavo Alaniz worked as instructors despite lacking trading competence. Tavarez, marketed as a “Top Educator,” admitted in September 2021: “Yeah thats why I be honest and tell people im [sic] not a guru trader I actually really suck.” Alaniz, touted as a “Top Trader,” told senior salespeople: “Yea I don’t even go back and forth with [racial epithet deleted] when it comes to trading. I don’t know shit about trading.” Both continued as instructors despite these admissions.
Austin Godsey made exaggerated earnings claims and enrolled his five-year-old son as a distributor in violation of company policies requiring distributors be 18 or older. Despite removing deceptive posts after complaints, Godsey continued making false claims on alternate accounts.
Frank Gomez, Isis Terry’s brother, jointly opened a Wells Fargo safe deposit box with Isis just two weeks after the preliminary injunction, which she failed to disclose under oath. The box was empty when accessed by investigators.
Chris Terry’s Full Knowledge of the Fraud
Chris Terry knew the operation was illegal and continued anyway. In June 2021, Terry warned top salespeople: “I went through Instagram, I’ve been going through a lot of people’s accounts, and I’m mortified by the lifestyle claims that we have. We’re going to end up getting shut down by the feds. I promise you. This is horrible what’s going on out there.” He specifically noted: “I’m looking at myself, I’m looking at a lot of you top leaders’ Instagrams. The jets, the watches, the diamonds, the cars…we got to [sic] adhere to certain laws that are in place. And if we don’t then there’s consequences. The consequences are that we will be shut down.”
In November 2021, Terry wrote in a group chat with Brown, Morton, and Rosa: “our risk is extremely high from these income claims…. I am sure if [the FTC] investigates us the chairman10’s and above will face legal issues. We do not want to swim in their waters as we will all lose… Should FTC come down on us. [sic] Expect a $20-30m in fines.” Rosa suggested making deceptive videos private so only those with direct links could view them.
Despite this knowledge, Terry continued paying top earners who violated compliance policies. He authorized payments to Bryce Thompson’s team despite noting they engaged in “deceptive marketing” and “predatory marketing [to] [m]inors[,] 14-16 year olds,” that their success was “all based on bullshit claims,” and that “we have [an] FTC investigation for all their shit that was allowed and encouraged.” Jason Brown remarked to Terry: “Bryce [Thompson] should be kissing your feet…Seriously…You let all his leaders off the hook basically.”
Between 2018 and 2023, 21 top salespeople and instructors—collectively paid over $242 million—repeatedly made deceptive earnings claims violating company policies. Rather than terminating them, IML continued lucrative payouts.
The Fraud Mechanics
The FTC alleges training services cost up to $400 monthly with promises consumers would learn to make significant income trading. In reality, “a substantial percentage of purchasers lose money trading, on top of the hefty sum they pay IML,” and “many of IML’s instructors are not successful traders.” IML’s 2022 income disclosure showed nearly 80 percent of salespeople made less than $500 annually, with average earnings of $77.51 for those under that threshold. The FTC noted 90 percent of consumers stopped paying within six months.
Payment processors repeatedly closed IML accounts due to chargebacks exceeding 1 percent, a primary indicator of fraudulent conduct. In January 2021, a processor denied IML’s application because of “unrealistic earnings claims” and “excessive chargebacks.”
The $94 Million Real Estate Empire
The FTC documented the Terrys extracted “substantially more than $100 million” to purchase “more than $94 million in elite real estate.” Properties include Isis Terry’s 12,000-square-foot Mount Kisco mansion on 11 acres, Chris Terry and Keishia McLeod’s 11,388-square-foot Henderson residence with professional recording studio, condominiums in Las Vegas, Miami, and Sunny Isles Beach Florida, a Manhattan condominium renting for $35,000 monthly, and two Dubai properties.
At Mount Kisco, Isis threw keys at investigators and maintained a basement wine cellar storing hundreds of thousands in luxury goods. A safe contained her engagement ring but not numerous watches and jewelry investigators expected based on documentary evidence. At Henderson, eight luxury vehicles included a Rolls Royce Dawn, two Ferraris, Mercedes Maybach, and Lamborghini Huracan. Chris and McLeod drove away in an electric blue Lamborghini.
Conclusion
Chris and Isis Terry together received at least $20 million according to FTC allegations. McLeod argues hundreds of thousands in vehicles and jewelry were “gifts” not subject to seizure—a position the receiver calls “tantamount to refusing to comply with court-ordered obligations.” The FTC and Nevada secured permanent receivership in November 2025, with properties being sold and proceeds directed toward victim compensation. The case exposes how multi-level marketing fraud enriches complicit promoters while devastating consumers who believed promises of financial freedom.
