Top Spanish promoters were detained, but IM Mastery Academy is still planning its Barcelona event.
Last Monday, the Spanish National Police detained eight associates of the IM Mastery Academy. The suspects’ names have not yet been made public.
The subject of the criminal inquiry in Spain was the pyramid scheme operation of IM Mastery Academy. The investigation’s targeting of underage pupils by IM Mastery Academy was one of its most alarming aspects.
An IM Mastery Academy event that was supposed to take place in Barcelona coincided with the arrests. Tickets for IM Mastery Academy cost up to EUR 400.
The tournament is being held in the Palau Municipal de sports de Badalona, and it is set to begin on April 8th.
It was anticipated that IM Mastery Academy would revoke tickets and issue refunds in light of the arrests.
That doesn’t seem to be the case, at least not as of yesterday:
Chris and Isis Terry will be the featured speakers at IM Beyond, which according to IM Mastery Academy will be “the largest event of 2022.”
It seems like IM Mastery Academy is taking a chance that the Spanish government won’t take any more action. It’s a significant risk given that the arrests are recent and that IM Mastery Academy has been classified as a pyramid scam by the National Police.
According to Alexa’s study of internet traffic, IM Mastery Academy is now receiving a promotion in the US (16%), Chile (16%), and the Dominican Republic (23%) respectively.
Neither the National Police’s investigation nor the arrest of IM Mastery Academy’s Spanish leaders has been handled publicly.
It should be highlighted that, if the IM Beyond conference proceeds as scheduled in Barcelona, it is unrelated to the legal status of IM Mastery Academy in Spain.
Authorities in Spain have made it clear that IM Mastery Academy is a pyramid scheme and that it is not permitted to be promoted in Spain.
As April 8th draws near, I’ll be watching for any developments.
Update: April 8, 2022. In response to the detention of its Spanish leaders, IM Mastery Academy has published a press release.