Love Island and TOWIE stars in court accused of plugging 'dodgy investments' on social media
A number of reality stars have arrived to Westminster Magistrates' Court to appear in a pre-trial hearing today (13 June) for allegedly sharing Instagram posts to their followers that promoted an unauthorised foreign exchange trading scheme.
Amongst those accused are TOWIE's Lauren Goodge and co-star Yazmin Oukhellou, alongside Love Island stars; Biggs Chris, Jamie Clayton, Rebecca Gormley and Eva Zapico. Geordie Shore’s Scott Timlin, known as Scotty T, is also heading to court.
The group of TV personalities were charged following a probe by the Financial Conduct Authority (FCA) and could each face up to two years in prison if convicted.
Emmanuel Nwanze and Holly Thompson allegedly used an Instagram account, @holly_fx trends, which gave advice on buying and selling contracts for difference (CFDs) when they were not authorised to do so. It said CFDs were high-risk investments, with 80% of customers who invest in them losing money.
The watchdog also alleges that Emmanuel paid the influencers to promote the account, with the stars each facing one count of issuing unauthorised communications of financial promotions.
Emmanuel is also accused of “carrying on a regulated activity when not an authorised person” between May 2018 and April 2021.
Many of the stars were pictured on their way into court, with Love Island star Eva - who rose to fame on the show in 2020 - looking sombre outside of the court. Scott appeared in higher spirits as he donned a navy suit and smiled upon arrival.
While TOWIE star Yazmin kept a low profile as she shielded her face and added large sunglasses to cover her eyes.
