Table of Contents
Introduction
Recently, IM Mastery Academy, a multi-level marketing company that offers online educational courses and tools for trading and investing in the foreign exchange (forex) market, has been making headlines for its operations in Spain. IM Mastery Academy offers online educational courses and tools for trading and investing in the foreign exchange (forex) market. Many top officials of the firm have been detained in Barcelona on suspicion of operating an illegitimate pyramid scheme and deceiving investors.
These allegations have led to an investigation against the company. In reaction to these charges, IM Mastery Academy has cast Spanish officials as the bad guys, stating that those leaders are unjustly attacking the firm and misinterpreting the business model that the company uses. In the following paragraphs, we will go through the history of IM Mastery Academy, the allegations that have been made against the organization, and the reaction that the firm has given to the matter.
History of the Internet Marketing Mastery Academy
IM Mastery Academy is a firm that specializes in network marketing and was established in 2013. They provide instruction as well as tools for FX trading. In order to assist its members in making educated judgments on their trading activities, the firm offers a variety of educational tools, trading signals, and software. The business has expanded at a remarkable rate over the years and is now present in more than one hundred countries across the globe.
The business strategy of IM Mastery Academy is centered on the recruitment of new members and the earning of commissions on the sales of the company’s items that those members make. Members have access to many compensation plans, such as a binary compensation plan and a uni-level compensation plan, through which they may generate income for themselves. In addition, members are incentivized to bring in new members to the organization so that they may receive commissions on the sales made by these new members.
In the past, the corporation has been criticized for both the ways in which it does business and the promises that it makes about the efficiency of the items that it sells. The Italian Antitrust Commission handed down a monetary penalty to the corporation in 2019 for engaging in deceptive advertising. The regulatory body came to the conclusion that the firm had made misleading statements on the profitability of its products and had not provided sufficient information regarding the dangers that are associated with FX trading.
IM Mastery School in Spain is the subject of certain allegations.
In the month of February 2021, authorities in Barcelona, Spain, detained a number of key executives of IM Mastery School. The people were charged with operating a pyramid scheme in violation of the law and deceiving investors. The local offices of the corporation were also searched by the Spanish authorities, who took papers and other evidence from the premises.
The arrests were made after Spanish officials looked at the company’s operations in the country for an entire year as part of their probe into the matter. According to the findings of the inquiry, the business in question was functioning as a pyramid scheme, in which the primary focus was on acquiring new members rather than on the actual sale of goods or services. The investigators also discovered that the corporation was given inadequate information about the dangers associated with forex trading and making deceptive promises about the profitability of its goods and services.
IM Mastery Academy’s Reaction to the Question
In reaction to the arrests, IM Mastery Academy published a statement in which it denied any wrongdoing and said that it was fully collaborating with the police. It also stated that it would not be closing its doors during the investigation. Moreover, the firm said that it was dedicated to complying with all rules and regulations that are in effect within the jurisdictions in which it does business.
But, the corporation has also adopted a more aggressive posture against the Spanish authorities, arguing that they are unjustly targeting the company and misinterpreting its business model. This is something that the company has done in response to the accusations that they are making. The firm has claimed that the Spanish authorities misunderstood the notion of multi-level marketing and wrongly labeled the company as a pyramid scheme as a result of their ignorance.
In addition, IM Mastery Academy has begun a public relations campaign in an effort to protect its image and respond to the adverse news that has arisen as a result of the arrests. The firm has published a number of videos and postings on social media platforms, many of which feature members giving favorable feedback about the company and the goods it sells. In addition to this, the firm has launched a website that is specifically devoted to responding to the claims that have been leveled against it and offering information about its business plan.
Putting the Spanish Leaders in Dangerous Positions
Throwing Spanish government officials under the bus has been an important part of IM Mastery Academy’s defense against the allegations that have been leveled against it. The corporation has said that the Spanish authorities are unjustly pursuing the company and that the authorities do not comprehend the idea of multi-level marketing (MLM).
Moreover, IM Mastery Academy has claimed that the Spanish authorities have misunderstood the company’s reward programs and have incorrectly labeled them as being part of a pyramid scheme.
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