TechFlow news, on May 3, according to The Block, the U.S. Federal Trade Commission (FTC) and the state of Nevada have filed a lawsuit against a company named "IML," accusing it of a $1.2 billion fraud scheme. The company provided young investors with investment training services in cryptocurrency, binary options, foreign exchange, and stock markets.
According to the complaint, IML made false claims about investment returns when attracting customers. In reality, the company knew that its salespeople either lost money or earned very little, with only one in five making more than $500.
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