Despite the arrest of major Spanish promoters, IM Mastery Academy has increased its investment in its next Barcelona event.
The Spanish National Police detained eight IM Mastery Academy associates last week. The suspects’ names have yet to be disclosed.
The Spanish criminal inquiry concentrated on IM Mastery Academy, which operated as a pyramid scam. The investigation revealed that IM Mastery Academy targeted underage pupils, which was particularly alarming.
The arrests coincided with a planned IM Mastery Academy session in Barcelona. Tickets cost up to EUR 400.
The event shall be held at the Palau Municipal d’Esports de Badalona and will begin on April 8th.
It was expected that IM Mastery Academy would cancel and refund tickets in light of the arrests.
Yet this does not appear to be the case:
Chris and Isis Terry will headline IM Beyond, which IM Mastery Academy describes as “the largest event of 2022.”
It looks like IM Mastery Academy is betting that Spanish authorities will take no additional action. Given that the arrests are recent and that the National Police have dubbed IM Mastery Academy a pyramid scheme, it’s a significant risk.
According to Alexa website traffic statistics, IM Mastery Academy is now being promoted in the Dominican Republic (23%), Chile (16%), and the United States (16 %).
The arrest of IM Mastery Academy’s Spanish leaders has not been officially acknowledged, nor has the National Police inquiry been addressed.
IM Mastery Academy’s legal status in Spain has nothing to do with the IM Beyond event taking place in Barcelona.
The opinion of the Spanish authorities is unequivocal: IM Mastery Academy is a pyramid scam, and its marketing in Spain is unlawful.
I’ll keeI’ll keep an eye out for updates!