Geordie Shore star set for court appearance days after confirming show's comeback
Geordie Shore's Scott Timlin, also known as Scotty T, is set to appear in court next month. The 36 year old reality star is currently preparing to film the 25th series of the MTV show with his fellow cast members in Thailand, where they are expected to stay for three weeks.
However, Scott has been charged by the Financial Conduct Authority (FCA) over alleged unauthorised promotions of investments on social media and is due to appear at Westminster Magistrates Court. He was among several celebrities involved, including Love Island stars Rebecca Gormley, Eva Zapico, Biggs Chris and Jamie Clayton, and Towie's Lauren Goodger and Yazmin Oukhellou.
The FCA claims that individuals named Emmanuel Nwanze and Holly Thompson used an Instagram account to advise on buying and selling investments called contracts for difference without permission between May 19, 2018, and April 13, 2021. These high-risk investment products are used to bet on the price of an asset, in this case, foreign currencies, according to the FCA.
The Financial Conduct Authority (FCA) has accused Nwanze of paying seven reality TV celebrities to endorse the account - known as @holly_fxtrends - on their Instagram profiles, which boast millions of followers collectively.
All nine individuals have been slapped with charges for promoting financial products without authorisation. Additionally, Nwanze is facing a charge for violating the General Prohibition under Section 19 of the Financial Services and Markets Act 2000, reports the Daily Star.
The FCA has warned before that a staggering 80% of clients lose cash when dabbling in contracts for difference due to the high stakes involved. The authority's website explains these contracts are "often highly leveraged, which means they use debt to try and amplify returns, which can result in investors losing more than they invested".
The reality stars embroiled in the scandal are scheduled to make an appearance at Westminster Magistrates Court on June 13. Scotty T, famed for his stint on Geordie Shore from 2012 to 2019, is gearing up for his television return in the new series.
He also appeared on Just Tattoo Of Us and Ex On The Beach, and won Celebrity Big Brother back in 2016. He recently made a TV comeback, appearing on E4's Celeb Cooking School at the start of the year, in which big names attempted to pick up some culinary skills from chef Giorgio Locatelli.
"I couldn't cook to start with and I wanted to do it properly," he said when asked why he decided to do the show. "Plus it's a bit different. As opposed to seeing like Scotty T go wild and get naked, doing all that sort of thing. Getting drunk on Geordie Shore. People love all that, but I want them to see a bit more into me. I want people to see the experience of me getting stressed out and trying to learn something new."
