By Ted Nuyten
iMarketsLive (IML) consultant Troy Dooly addresses, in a professional way, in a lengthy video, concerns as published by Truth In Advertisement (TINA) in the USA.
Enclosed edited parts of the transcript of Troy’s youtube:
Jason Bagley who is literally the staff writer at TINA that wrote the article on IML in my opinion and I’ve read several of his articles that he’s written there and elsewhere, hI mean he’s a journalist and I’ve got to say he’s not just a journalist he’s a journalist with passion he’s a journalist that probably has a romantic euphoria for what he does, that’s how he is and what I call wisdom.
I responses to these and I’ve seen those questions because I work with Christopher Terry I’m an advisor over there.
He said Troy here’s the questions that truth in advertising (TINA) sent us, I said let’s get what the compliance team let’s get with the legal team you need to respond to these you need to look at this this needs to be the benchmark that we use moving forward and that’s that’s just my belief on that so my hats off to him.
I’m doing this is because he used the video interview I did in 2016 with Christopher Terry.
Number one of the first things that Jason raises in his article is “no learning required” and then he puts really? Now that’s based on Christopher Terry’s interview with me and you guys have heard me talk about this for years.
Now it doesn’t matter what it is that you’re doing you have to be a student of your company and a student of you industry, Christopher tried and I believe did pretty good job at creating a platform for people where they could go in and if they just model what other people were doing they could have that same success.
Here’s the key to that not everything goes up it doesn’t matter if it’s crypto, it doesn’t, matter if it forex, don’t matter if it’s, futures bonds doesn’t matter what goes up comes down. I own metals, I own crypto, I own stock, I’ve watched it go up I’ve watched it go down. The concept here is you buy when it’s low you sell when it’s high, but most people don’t do that.
When Jason raises that concern it’s very valid I can say this between 2016 and 2018. The actual part of the platform which was was the actual mirror trading type deal where there was no real money, you were just actually modeling it then you could go and open up an account and still use this and model it.
That’s been wiped out and gone away because they found in my opinion that people were not really getting his engrossed in monitoring their trades as they should be. So what they were doing was trying to set this all up automatically and it doesn’t work that way. That’s why for years, day trading was was not working the way it should. Is because people just thought, I could just go over and do this and then everything’s fine.
No it doesn’t work that way so Jason raises a great concern there a lot of that concern has already been taken care of. Nowadays the company literally shifted to become a true educational platform to where they’ve got I believe now 24/7 live education that’s on there. They literally talk to people at different stages whether they’re a novice or an advanced trader.
I do have some friends that are in my markets live in the field as customers that’s what they do that now they are building their business but they were customers first. One of my good friends who I’m not gonna name his name, he was in the health and wellness arena for a long long time. He got out of it went back into traditional sales and marketing when he saw IML he called me, and said “what do you think” and I was very clear look when it comes to Forex.
Dude that’s like the highest risk out there that’s that’s up there with the crypto the commodities gold and silver if you go do that, you need to be cautious. Well hewas cautious and went in and learned and I believe that’s what everybody does.
Even though in the interview Chris is talking about this is a turnkey system you don’t have to be smart, you don’t have to have a high education, you don’t have to learn, I do think that part of that was taken out of context in it.
Number two, costly tools don’t eliminate risk 100 percent agree with that you know it doesn’t matter how many tools you have when it comes to investing you can be using a trading bot, you can be using a platform, you can be looking at historical ‘s. That word his story goals, no matter what, it is the risk is still there and when it comes to equities we see this a lot.
We can see a shift in the market we, don’t see it quite as much in the stock side because there’s so much regulatory control if you will and don’t get me wrong, Forex crypto all that still has some regulatory control and people hope crypto doesn’t. Well it does now because there’s futures trading in crypto and see here’s the key.
When you get into the futures market not just in forex but let’s just look at futures for a second there’s a lot of risk there it can move a market it can move a currency just like that. I mean just a fraction of a point and big institutions who have millions and billions of dollars out there all that they can gain lots of money and yet you lose at the same time.
There’s a couple of good books that I would I would challenge anyone to read to understand more about the backside of how money big corporations large family firms actually operate it’s the house of Rothschilds. You go get it on Amazon I think it’s paperback it’s a two-volume it takes the Rothschild family who literally when it comes to banking and finance since the 1700s have been the number one family in this business. You literally can read and understand a little bit more about how all these markets work and how they are manipulated to a certain extent.
When Jason writes on here costly tools don’t examine eight risk one hundred percent agree with that but I don’t see that I am else tools are costly when you look attheir their monthly subscription I think it’s less than $200 when I look at my monthly subscriptions of what I pay for just in marketing and public relationsand and software’s to be able to monitor.
The analytics for clients and monitor our analytics and see what’s out there we spend a substantial amount more than that per client not even counting what Ispend on myself and we still sometimes fall short. You don’t get it right so he raises a great concern we need to understand that all tools work on a historical they don’t work on the future because you can’t so when you’re joining a company like this you need to understand that so I think again Jason did wonderful.
Now I can’t say this to is a former licensed broker when we had clients joining our company and they were getting ready to retire. They were in that middle to latter stages in life. We would never put him in a high risk but every client that I had that was in their 20s and 30s would say to me:
“Troy we want a little bit higher risk we, want to be able to earn as much as we can”
When you look at IML and some of the other companies that are out there you start to see that the majority of their their cultures are Millennials. The only work the only place I haven’t seen that true is at crypto genex where it’s baby boomers don’t know why that is but when you look at wealth generators or whatever they call their new company, when you look at IML when you look at some of these companies that are no longer in existence you see this.
You see a younger generation when you read the articles from Forbes and Fortune, CNBC Bloomberg and you listen to what people are saying they actually will tell you that based on surveys that have been done Millennials would rather invest in crypto and high risk than they would stocks or real estate. So part of this is a shift in the culture we’re still studying that ourselves it doesn’t make sense it’s sometimes but we want to study that it could be that they just don’t want to do what their parents did.
For that matter so we’re gonna keep covering that but that was a phenomenal point number two that Jason Bagley made over there.
Number three let’s look at what we’ve got brokerage and brokerage fees. He said no,no they’re not included well no they’re not included a lot of times people think these educational companies are somehow selling the investment services that is ot true and in this case it’s not true.
Literally you can go into IML, you can get a subscription, you can learn from the bottom to the top and then you go out and you actually invest your money in an account that only you control. The company never touches that and let me let me say this, if you’re in a company where the company says: hey give us your money and we’ll trade it for you I don’t care if it’s crypto, I don’t care if it’s futures, I don’t care if it’s Forex, don’t care what it is that, that is not right.
They have to be licensed as a broker it’s a big deal now some of the educational companies need to be licensed as financial advisors if they’re crossing that line based on the 1933 1934 Securities and Exchange Act.
So they’re still borderline here they’re still gray areas you have to work in if somebody tells you that a company doesn’t have to be registered that may be true but you need to ask them has that come from your SCC attorney do you have a legal team that specializes in securities and exchange rules or did that come from some guy that says he’s an MLM attorney.
That’s important there because you’ve got to have the right legal team not every attorney is equal if that makes sense ok so the concerns that he raises here I don’t think are valid concerns at this point because I believe that anyone joining IML or any of these other companies fully understand. Either they have to have an outside account or they don’t whether that’s in crypto, or whether it’s in futures, whether it’s in forex, what doesn’t matter what it is.
So that one I don’t want to touch on a lot I think that it’s probably valid the way he put it in his article I just don’t think it would be a valid concern I would have picked a different concern that is more inclusive now he did bring something up that I think it’s totally subjective totally supposition on his part.
He mentions inside of his article in the section under brokerage fees that Christopher Terry was alluding to the fact. Hey we don’t touch your money so we don’t have to be regulated or or we can bypass regulations and that is the furthest thing from the truth. I have had countless hours of conversation where Christopher Terry is very astute and in tune with the fact there are several different agencies not just the securities and exchanges the futures exchange there’s probably five different agencies in the US alone not counting the 50 states that actually govern the trading govern.
Everything that has do with IML the same thing rings true internationally in each country. Okay so you each country’s a little bit different I’m here to tell you right now back in March we worked with several legal teams to find the right one for IML so that in the countries where they have been operating and the laws are very clear or just got enacted in some cases.
If you’re in this type of a business you need to be registered with our country you need to do certain things they’ve got an international legal team now on top of all that working net so to allude to the fact that IML thinks they’re above the law which is kind of where this went that that is a fallacy that is not true.
Whatsoever I’ve talked to their CFO, their executive their chief executive officer, their VPS. All of them realize how regulated their industry is.I just want to say that let’s look at number four, missing income statement.
Absolutely I went and checked after what he said that the company since January has been shifting platforms and anybody that understands software and databases understand it’s it’s a process. Sometimes you’re on the Newlands, sometimes you’re on the old one, you’re trying to make this thing work.
I looked at the link I’ve put a call in to Christopher Terry and the compliance team to say hey what what do we got here. Now there is a possibility that that gotpulled down because it was out of date. It’s 2018 I do know the legal team and comply team is working on the 2018 income disclosure statement.
I told Christopher look let’s at least get something up there because it’s very important that you have the income disclosure statement. Not because IML says hey go use income claim as a matter of fact. It’s just the opposite in the policies and procedures that we created. It very clearly says no income statements.
We work on that daily, we educate we hold accountable reps in the field from the matter of fact. I shouldn’t say that we hold accountable the executive team all the way down to reps in the field. Okay that’s just the way it is because everybody can get passionate and if you think there’s not a CEO in the business that doesn’t say I am proud of my leader who just broke XYZ, who just bought XYZ who just went XYZ, well then guess what you’re fooling yourself and and honestly if there’s nota CEO out there publicly praising their people.
Whether they’re in direct sales or an employee of a company well then doggone you need to do a better job at being a people person because people will do more for recognition than they ever will for money I know that because I’ve had almost 40 years in the people business and I know exactly what people do when they’re rewarded.
I’ve got a baby girl who is a national gymnast I know what she does she could care less about money she wants that medal around her neck so I understand where that’s at so guys listen he met we’re gonna get an income claims a minute cuz he raises that point. But here we’re we’re talking about the missing income statement again very valid you have to have one but in IML. I want it to be very clear we don’t approve income claims at all period we don’t include lifestyle claims that’s an income clip we don’t do that we don’t have health and wellness claims.
We’ve added to this so you guys need to this in January on stage. I made it very clear not January, March I made it very clear to almost 2,000 in attendance youcan’t make claims on your trades either. You can’t do that period, into conversation. That is governed by so many different rules and regulations and that was a shock to them.
They didn’t understand that and it’s like yeah this discuss it’s your trade just because you’re shown it it’s your account it’s still classified an income claim it’s still an entire Smit so we’ve been policing that and I’m proud since March. The field leaders are policing each other and that’s helping us because we believe in education and accountability far from just termination or suspension.
I’d rather a person be able to fulfill their dreams and whatever income opportunity that the rollin with number five unrealistic income claims man. Jason nailed this one and actually we’ve sent some of these on over to the compliance team so they can work on these because we go through the internet left and right and and some people will say well Troy look at the date on this how did you miss it it was from 2017. y
You can miss them because we’re constantly look and Instagram we’re constantly looking at Facebook, we’re looking at Google, we’re looking at YouTube, we’re looking literally now we’re looking at International social media platforms to try to hone this thing back down. Thank goodness the leaders are helping us outbut these are that these are issues I don’t care if it’s my buddy Chris Terry.
I don’t care if it’s a brand new person I haven’t met you can’t do the income claims you and and a lifestyle claim is classified an income claim so these arethese are if he know I’ve got a good good friend of mine that joined IML and he said hey Troy these aren’t income claims these aren’t lifestyle claims about IML. I did all this when I was with another company well that’s even worse because now the story is looking like look what I did at IML when really that you did it another story I get on to people with that do before-and-after pictures this way.
They were with one company where they lost all their weight then they joined another company and what do they do they still put up their old pictures and say look what I’ve done. Well no you didn’t do it on that product so income claims there’s no defense, matter of fact you guys have watched my videos for years now and you know my passion against lifestyle and income claims but here’s what we’re doing at IML. Just so that you guys know I personally hate being told you can’t do that.
Don’t do that and guess what you do too so a time out we’re actually creating a Do’s this is the IML way see I believe if you give somebody the direction to go you give them the pathway to go they’ll stay between the lines 95% of the time. When they get out then you see if they did it on tensional II if they just slipped off the side of the road if they just slipped off the side of the road you fix it if it’s intentional and you continually see them doing that.
Then we take matters to a whole new level and in a lot of cases we can find them thousands of dollars depending on their level in the complan we can suspend them we can terminate them. The key here is that we don’t approve of just bogus income claims. I will tell you right now Christopher Terry loves income he loves to share they’re not to him. Troy this is him, this is his New York Street mentality and I love it they’re my family.
I’m celebrating their victory this is why I’m in business why can’t I do this well because this is what the government says that’s the reason and he gets frustrated as all get-out fraud you know and that’s that’s his deal matter.
Of fact it’s interesting here’s another thing he it’s frustrated with. You know I mentioned the actual complaint that that they talk about in here and in that complaint you can tell that it was a professionally made complaint because they’re looking for keyword attraction they’re looking for search engine optimization because they cover IML, Wealth generators, Vemma.
They cover all these companies that are somehow because of people in the business or in a woven and right in the middle of it. They say well Christopher Terry runs this whole company from his hotel room in Vegas they don’t even have an office and I just had to laugh at that because I wrote that’s one area where I wish Jason Bagley would have done a little bit more due diligence.
They have a substantial office in New York that’s where the actual offices are now. Their West Coast office is in Vegas not in a hotel. Mr. Terry owns a three bedroom condominium. They have real estate there that are office spaces inside this giant.
What do you call it what’s kind of like the Ritz Carlton you have a hotel area and then you have residents this is a home this is a multi-million dollar home and part of the amenities of. That is you have executive office space where you can have meetings you can do stuff but the corporate offices where the compliance team is accounting is where all of the administration takes place is in New York.
Christopher Terry is in the field constantly with his leaders Vegas is in the middle it’s easier to fly there than some other place and that’s why it does it know is that my opinion part of that’s my favorite of its fact you can go look at the real estate that they actually own in Vegas and you’ll see this. So I wanted to bring that in but the unrealistic club income claims 100% no problem with that some of the examples that he shows aren’t really income claims.
But when you tie them all together because of the narrative that it creates I can see exactly why mr. Bagley put them in there makes total sense to me 100%. Let’s go we’re almost to the end of this guy’s and I know it’s a little longer but I think this is important.
Number six leadership has baggage while crying out loud no mr. Bagley is young a journalist so he’s out there looking for things because of his ethics I mean you can see this. I told you guys he has a romantic euphoria about what he does he is going to bring good through his talent or he wouldn’t be doing it so the odds of him being having any public professional baggage slim-to-none.
We all have personal baggies can’t do anything with it but when we look at the leadership in the baggage at IML look let’s be realistic here I have more baggage than I think anyone in that company at least that’s what they they perceive when they look because of my settlement with the Securities and Exchange Commission with Zeek rewards.
But see I don’t hide that fact that was a learning experience for me I screwed up over there in a couple of cases but I’m proud of the work that I did because had that work actually been implemented. Maybe they wouldn’t have gotten in trouble. Sad thing is I split hairs and that’s something that you can’t do so when I look at the baggage that he brings in and I want to talk about just one individual because that’s who he brings in Mr. Alex Morton.
Alex is a a young energetic, he laughs I used to call him a snot-nosed kid and he’s actually older than that now but let me share a little bit about my background with with Alex one of my dear friends BK Boreyko owned Vemma. Alex was a very passionate builder over there early 20s ran the Young People’s Revolution.
Why PRI thinks what he called it income claims lifestyle claims look at us look what we’re doing look at our watches, look at our clothes, look at our cars, look at all this and I yelled and screamed and hollered. So when Vemma got hit by truth and advertising and then the Securities and Exchange or the the FTC, the FederalTrade Commission, I blamed a lot of that on, on what Alex and his team was doing. And of course they went somewhere else companies down everybody split up.
Everybody went somewhere and you can read this in the article but I’ll never forget the night that Christopher Terry calls me and now because he’s in Vegas.and I’m on on the Emerald Coast there’s a two hour time difference he said I know it’s late but I need you to talk to somebody I said okay who is it he goes Alex Morton.
I said why am I talking to Alex? He goes cuz I just hired him as my VP of Sales. I said okay that’d be great let’s get on the phone with him so Alex gets on and Christopher says look I just want you guys to talk, I want you guys to hash out any differences that you have talked and Alex laid out his frustration towards the bald-headed old guy with the mustache and I listened.
I addressed my concerns with Alex and over about a two-hour conversation Christopher jumped off. We actually jumped back on a call together. We started to find a mutual respect I don’t think we the one trusted each other at the time not not at all it’s like man I just don’t know about this but over the last couple of years.
We have grown a trust for each other there’s times when Alex and his passion is out there on the net and I’ll see him throw something up and I’ll text him real quick say Alex you need to take that down reword that make it like this otherwise we’ll cross on the line. I’ll see him hanging out with certain people and I’ll text say hey be careful there because these guys are still under scrutiny over here and you don’t want a lot of stuff tying you that when that’s not real.
You’re just hanging out but we all have baggage. No mr. Bagley has taken certain things that alex is currently stated and said and then they probably are borderline to be quite honest looking at looking at how he said it or at least how mr. Bagley wrote it because I don’t know that he said it that way but looking at how he wrote it I could see where I need to have a talk with Alex.
And say okay let’s home that back down a little bit but I’ve seen a change I’ve seen a I guess it growing up if you will. Alex is not perfect you know, Alex is a personality that that is going to drive nails in a coffin for some people and raise the sail on a sailboat for others. That’s the way we all are you either like people or you don’t like people.
Every leader in every company I know has baggage, one of my dearest friends who runs a company that’s now doing close to $400 million after a couple years has baggage. We can either hang on to our baggage or we can say look it’s there and we got to move through it we’re not perfect we’re gonna slip we’re gonna screw up people.
Have to hold us accountable it’s it’s like the adage friends don’t let friends drive drunk well you know what friends don’t let friends screw up intentionally they help them.
I believe mr. Bagley has done exactly that for IML he’s done exactly that for me for BK are not BK for Alex he’s done it for everyone because we’re able to look at this and say hey he raised some valid points we need to get this thing straightened up.
We need to do this right so when I look at all this he’s got some great valid points here especially when it comes to income claims when it comes to baggage crap man we all have baggage. We grow through it we live through it I don’t know anybody in network marketing does have baggage he says you need to read your agreements.
Heck yeah you do 100% I yell at people all the time I get these calls Troy company’s being mean to me they terminated me they suspended me they did all this did you read the policies and procedures no, well you violated them don’t violate the policies and procedures that government do what you are supposed to do so yes he’s 100% about that.
He closes out on two points one what’s the deal with the 19 countries and territories they’re there they’re banned in are they banded they don’t do business in well I think really what he’s talking about is Montana and there are certain states where we just don’t do business. There are some states where we do do business as for the countries that we don’t do business and there’s two different reasons for that.
There are certain countries that are sanctioned against doing business in. The United States has made that very clear so yeah we’re not gonna do business in Iran we’re not gonna be doing business in the Sudan we don’t do business in in some European countries. Okay that we don’t do business in China okay but then there’s other reasons for fraud protection and stuff that we don’t do business and some other countries where fraud is high.
It doesn’t matter why you don’t do business, the fact is we don’t do business there and we don’t allow business there because we want to do it right. I can tell you that there’s some countries right now that we’re working through a regulatory process in with IML to make sure that they are legally compliant as a foreign entity to do business in that country.
Same thing rings true if you’re in the CBD market. You know if you’re selling CBD you can’t legally sell CBD in Canada unless you’re actually in Canada you’re Canadian company so there are regulations like that. We dig through as mr. Bagley goes deeper into this I believe he’ll find there’s certain things certain reasons why we don’t do business in certain countries.
Then he closes it out with the lawsuits that have been going back and forth between wealth generators and IML. I’m not getting into those lawsuits that’s public record public information it’s easy it’s easy to tell in direct sales there’s always lawsuits. I have good friends in both of these companies some of the investors and the founders of these companies are dear friends of mine. I’ve had lots of communication between the executive teams, the influencers at wealth generators and at IML.
And there’s times when you just can’t get you can’t get something fixed outside of court in this case I think this thing was settled just a couple days ago and you guys can go look it up I’m not gonna talk about the lawsuits you know that will all come out in the second article though because I believe that IML is going to address that with mr. Bagley so I know this was about 30 minutes long as longer than most of our videos are today.
But I think was very important that I do this because I want you guys to understand the unauthorized version I am working with an authorized version that will come out there’ll be answers to Tina that mr. Bagley will get because he was so professional and reaching out and asking this. I’ve also made it very clearto the successor over it MLM watchdog that I would give him those questions and the answers once we’ve given them to Tina so that he could fulfill his story and his obligation as a journalist.
I’ll do it the same thing to anyone else that actually asked who run a blog whether that’s behind MLM whether it’s business from home whetherit’s it’s what is real scam calm I don’t care what it is if you guys are honestly interested in the then I’ll be more happy to provide them once we have them from IML.
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