Love Island and Towie stars including Lauren Goodger in court accused of plugging dodgy investments on social media
LOVE Island and Towie stars are appearing in court today accused of plugging dodgy investments on social media.
The celebs allegedly pushed Instagram posts to their followers that promoted an unauthorised foreign exchange trading scheme.
Goodger is set to appear at Westminster Magistrates' Court today alongside fellow Towie star Yazmin Oukhellou.
Love Island’s Biggs Chris, Jamie Clayton, Rebecca Gormley and Eva Zapico are also charged, as well as Geordie Shore’s Scott Timlin - known as Scotty T.
The alleged 'finfluencers' were charged following a probe by the Financial Conduct Authority (FCA).
They each face up to two years in prison if convicted.
Emmanuel Nwanze and Holly Thompson allegedly used the Instagram account @holly_fx trends, to provide advice on buying and selling investments known as contracts for difference (CFDs).
The FCA says CFDs are high-risk, with 80 per cent of customers who invest in them losing money.
Thompson and Nwanze are accused of paying the celebs to promote the account to their 4.5million followers on social media.
Chris, Clayton, Goodger, Gormley, Oukhellou, Timlin, Nwanze, Thompson, and Zapico each face one count of issuing unauthorised communications of financial promotions.
Nwanze, 30, is also accused of “carrying on a regulated activity when not an authorised person” between May 2018 and April 2021.
The FCA asked anyone who believes they have sustained a loss due to the scheme to contact its consumer contact centre.
