The Cryptocurrency Cult Luring in Young People

Thousands of young people want to make a fortune in cryptos. IM Mastery Academy, a training institute, is under judicial investigation in Spain for mental manipulation and criminal conspiracy. We met the young survivors of a global scandal.

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IM has invested a lot of money to recruit new students across Europe. But behind the promises of success hides a company with dubious methods. 2 years ago, Luis, a student from Spain, was approached by a student of the academy on social networks. “Initially, I wanted to learn to be a trader. They twisted my brain and said first I had to create my own wealth, and if I could recruit other students, he would pay me a commission that I can then invest.” Once young investors tried to cut ties with the academy, they used harsh tactics to keep people enlisted. "​As soon as we want to leave, or if we doubt them, they say “have you thought about your parents, and their problems? What at first looked like a financial formation soon turned out to be a cult​.​” When families realize the scam, it is often too late. Maria Del Mar's son has slowly cut ties with her since joining the academy. "At first, I went to ask the police for help. I was even ready to file a complaint against my son so that they would go get him." Last April, the economic crime unit arrested 8 Spanish officials from IM Mastery Academy. The case is under investigation.

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Radio Télévision Suisse – Ref. 8414