What Do Bob Proctor and Pyramid Schemes Have in Common?

A $1.2 billion lawsuit. A sudden shutdown. And a recycled network of so-called mentors.

The FTC just filed a massive complaint against IM Academy (also known as iMarketsLive and IYOVIA), accusing it of running a pyramid scheme disguised as a trading education platform.

But this wasn’t the first time.

Many of the same leaders—Bob Proctor included—were previously involved in Vemma, an MLM the FTC shut down in 2015 for nearly identical tactics. They just moved the blueprint to a new industry and scaled it.

According to the FTC’s complaint, IM Academy:

• Targeted young Black and Latino consumers with culturally tailored marketing

• Misled college students with exaggerated income claims

• Made most of its money from recruitment—not actual trading

• Used testimonials and high-pressure tactics to keep people “plugged in”

But there’s more to this. There was an underlying spirituality that fueled the entire operation—one that shaped the mindset, silenced criticism, and made people believe failure was their fault.

Watch the full breakdown here: https://youtu.be/3hkphAMnk68