Jennifer Gumbiller, a former sales representative with International Markets Live (IML), was acquitted by the Canton of Thurgau’s Higher Court of participating in a “snowball” or “pyramid” scheme. Gumbiller was also acquitted of charges of misleading others while working at IML, an online financial education platform that is now known as IM Academy and was previously known as iMarketsLive. The decision was made during an appeal hearing and overturned a previous decision in Gumbiller’s case.
The court’s decision means that the lawsuit filed by the Swiss State Secretariat for Economic Affairs (SECO) and the Canton of Thurgau’s Public Prosecutor’s Office for Economic Crimes and Organized Crime was unsuccessful in establishing criminal activity at IM Academy. In addition to acquitting Gumbiller of all charges, the court ruled that the state should pay the legal fees. Gumbiller’s acquittal means that the State Secretariat for Economic Affairs (SECO) or the Swiss public prosecutor cannot use her case to set precedent or pursue other cases against IM Academy.
The Business Model of IM Academy
IM Academy has established itself as a leading educational platform, with students from all over the world using it to learn about a variety of markets, including forex, cryptocurrency, and e-commerce. Students have access to a variety of academies, strategies, and apps, as well as live mentorship from IM Academy educators. These features are accessible via the IM Academy portal and the IM Academy app.
The mission of IM Academy is to create an educational platform and community for students interested in gaining a comprehensive understanding of financial markets. IM Academy provides four distinct academies to equip students with market knowledge: the FRX Academy for forex markets, the HFX Academy for high frequency markets, the DCX Academy for digital currencies, and the ECX Academy for e-commerce. Students who want a more comprehensive experience can also select the Elite Academy option, which grants access to the FRX Academy, HFX Academy, and DCX Academy.
After selecting the academy or academies of interest, students are given access to a variety of online resources. PDFs, videos, and apps are examples of materials. Students at IM Academy work their way through a series of these offerings in a system designed to build market knowledge as they progress through the material. Students can also interact with IM Academy educators via GoLive sessions, which are live online sessions where IM Academy students can ask questions and discuss market strategies.