A group of influencers and former reality TV stars from shows including Love Island and Geordie Shore have pleaded not guilty to promoting an unauthorised investment scheme on Instagram, but will not be tried until 2027.
Lauren Goodger, an ex-cast member of The Only Way is Essex (Towie), Love Island’s Jamie Clayton and Scott Timlin, the former Geordie Shore star known as Scotty T, appeared at Southwark crown court in London on Thursday on charges relating to plugging an unsanctioned financial venture to their followers on the social media site.
Eight of the nine defendants pleaded not guilty to the charges, with a trial in early 2027. Love Island’s Eva Zapico was unable to attend the hearing.
The charges were put forward by the Financial Conduct Authority (FCA) at an earlier hearing this month, which has previously claimed the stars had promoted the scheme allegedly run by Emmanuel Nwanze, 30.
The FCA alleges Nwanze used the Instagram account holly-fx trends, alongside Holly Thompson, 34, to advise on buying and selling contracts for difference (CFDs) when they were not authorised to do so between 2018 and 2021.
The CFDs, the FCA says, were high risk investments that saw 80% of customers lose money.
The body alleges Nwanze paid former Love Islanders Clayton, 32, Biggs Chris, 32, and Rebecca Gormley, 26, to promote that account to their followers in 2020.
He also is alleged to have paid Goodger, 37, and her fellow Towie castmate Yazmin Oukhellou, 30, as well as Zapico, 25, and Timlin, 36, who also won Celebrity Big Brother in 2016.
The FCA added that the combined total of their Instagram followers was 4.5 million.
A finfluencer is a social media influencer who gives advice on financial investments.
Each defendant is charged with one count of issuing unauthorised communications of financial promotions. Nwanze has also pleaded not guilty to running an unauthorised investment scheme.
Should they be convicted, they face up to two years in prison.
