Chris Terry is organizing a big event at the Hallenstadion in Zurich at the beginning of October with his online trading «Akademie» IM Mastery Academy.
The «IM Beyond» congress will take place in the Hallenstadion in Zurich from October 2nd to 4th. Participants should be able to learn successful strategies for crypto and foreign exchange trading. The event WILL be carried out by the controversial American online marketing company IM Mastery Academy.
The online trader academy, as it calls itself, has over 400,000 members worldwide. And a reputation for appealing to young people who want to get rich quick. Everything the young people supposedly have to do for their dream: watch instructional videos, download apps and acquire the right mindset, i.e. the right attitude. Only: What the “Akademie” proclaims is reminiscent of profane motivational training. “You have to have trust,” it says, for example. Or: «What you focus on grows» and «Listen to your feelings». It’s simple wisdom for uncertain times.
Company boss expected to appear in Zurich
These and other insights are available for a monthly fee of up to $275. Those who recruit new members receive bonuses. This is part of the business model of the “Academy”. However, this can have bad consequences: There are young people who cannot deal with it and will quickly do anything for the supposedly big money. They break up with family, friends, partners. Drop out of school or apprenticeship. in debt.
Parents worldwide despair. Also in Switzerland. Of the “Daily Gazette” portrayed a 15-year-old who was seduced by IM Mastery Academy in August. And that too “Mirror” detailed how a teenager’s IM membership transforms an entire family. Financial authorities in France see a pyramid scheme in the IM Mastery Academy – and warn, as reported by the news magazine “Nouvel Obs”. In Spain this year were charged with fraud several senior IM members arrested.
According to the event website, IM company boss Chris Terry (52) should also appear in the Hallenstadion. A man who, according to his own statements, made it from a simple construction worker from the New York Bronx to the most successful trader in the world. On a now-deleted website, Terry wrote that in 1995 he discovered something that offered him a great income, a great lifestyle and the opportunity to influence others: trading.
His company advertises the event in the Hallenstadion on its website with an elaborately produced video: beautifully filmed sequences from Zurich hotspots. You can see many young and happy people who seem to say: Look, we did it, you can do it too. At the Hallenstadion, Terry fans can soak up his wisdom for tickets ranging from $259 to $489.
There are protests against the occasion
Psychologist and author Franz Eidenbenz from the Radix Center for Gambling Addiction and Other Behavioral Addiction in Zurich has been critical of movements like the IM Academy for a long time. He says: “The problem with performances by successful stars like in the Hallenstadion is that it is actually possible for a few to get rich.” Community, community, being among the successful, who know how to do it – these are buzzwords that appeal to young people. In return, they are willing to pay regularly, bring in friends and accept a few inconsistencies or losses.
However, there are protests against the event in Zurich. Spanish parents are open Change.org petitioned against it launched. Over 42,500 people have signed. They accuse the IM Mastery Academy of being a “crypto sect” that uses “brainwashing” to drive young people into a “ponzi scheme”. The initiators recently prevented an event of the IM Mastery Academy in Dubai in this way.
One of the initiators of the petition is the Spanish journalist Laura* (47). She says she lost her son Pedro* (17) to IM a year ago. «His change after joining the IM Mastery Academy happened very quickly. Er, school doesn’t make sense anymore, it’s outdated and doesn’t prepare you for modern life. He quit and even ran away from home for a few months, »says Laura desperately.
Pedro lost all his friends, sat in front of his computer and smartphone for evenings and nights and only talked to people from the Academy. Laura says: If the event in Zurich is not canceled, Pedro will go there too.
“They make you look like a Christmas goose”
Juan* (56) had similar experiences with his daughter Maria* (21). He says: «Within a few weeks our old life was gone, losing everything: friends and family. She built her future. That scared us.” But for Maria, the IM community was an opportunity to dream big. “If you heard her speak, everything was always possible: big money, escaping a staid life. They sell you a utopia and make you look like a Christmas goose,” says Juan.
For fear of losing contact with their children completely, neither Laura nor Juan want to appear with their real name or picture. Both are desperate. With the petition they want to warn other parents.
Faced with the allegations, IM Mastery Academy has not responded to several Blick requests. An interview request to IM CEO Chris Terry also went unanswered.
Cancellation for Hallenstadion is not an issue
“Parents should be critical of such offers and discuss the risks with the young people. Bans are not very helpful if a budget is made for any investments or if the young people are accompanied to seminars or events,” advises psychologist Eidenbenz. Risks should also be discussed in terms of an addiction tendency.
It is questionable whether the concerned parents can prevent the event with their petition. A cancellation of the event by the lessor of the probability, the AG Hallenstadion, is not an issue, as Blick reports on request. The city of Zurich, shareholder of AG Hallenstadion, also does not want to comment on the event.
* Names changed