Kind Law/Ben Travis Law

In a pair of Instagram ads sent in by a TINA.org reader, firms Kind Law and Ben Travis Law claim “compensation” may be available for victims of IM Academy’s “alleged deceptive trade practices.” The captions explain “what happened”:

IM Academy allegedly made misleading statements to persuade people to join its program. It is also believed to have failed to disclose important information, such as the fact that many members do not earn a substantial return, that authorities worldwide are investigating the IM Academy for alleged unlawful trade practices, and that some have accused the IM Academy of running a pyramid scheme.

IM Academy, aka IM Mastery Academy (IMMA), is a Las Vegas-based MLM that sells forex and cryptocurrency trading software and educational products, among other things. TINA.org has kept a watchful eye on IMMA since alerting readers to the company’s unrealistic income claims and questionable leadership, among other issues, in 2018.

In 2020, the Direct Selling Self-Regulatory Council issued a case decision based on a TINA.org complaint finding that iMarketsLive (as the company was known then) and its distributors were making inappropriate income claims to promote the company’s business opportunity.

In June of this year, we reported that the FTC had launched an investigation into the company. And just last month, we wrote about the deceptive earnings claims-filled scream-a-thon that was the MLM’s annual convention, which we attended virtually.

But news of an IMMA settlement came as a complete surprise. In fact, after doing some digging, TINA.org could not find any pending lawsuit or settlement that would support the law firms’ claims that consumers “may be entitled to compensation.”

So what’s up with these attorney ads?

It’s likely that the firms are looking for plaintiffs to initiate a lawsuit against IMMA, rather than share the wealth of any pending settlement amount. And it could take years for a lawsuit to result in any kind of compensation (and that’s only if the case is resolved in a way that benefits consumers, which is not a guarantee).

The bottom line

While these ads contain some accurate information – the company has made misleading statements to lure recruits and financial regulators in a number of foreign countries have warned the public that the company is not authorized to operate in those countries – the ads may also lead some consumers to think that money or “compensation” is readily available for them to claim. Which simply isn’t the case. Or at least not yet.

That said, there’s nothing wrong with exploring your legal options if you’ve been deceived by IMMA, or any other company for that matter. We at TINA.org believe wrongdoers should be held accountable and aggrieved consumers should be compensated for their losses.

But we also believe advertisers – and that includes lawyers – should be clear and upfront about what they’re advertising.

In response to a request for comment, the law firms said:

Kind Law and Ben Travis Law are proud to fight for consumers who may have been harmed by unfair business practices. While we cannot comment on active or pending litigation, we have the utmost respect for TINA’s reporting and welcome its feedback.

The law firms provided updated versions of the Instagram ads that no longer mention “compensation.”

Find more of our coverage on IMMA here.