Celebs allegedly promoted high-risk investments to their millions of followers
LOVE Island star Eva Zapico appeared in court today accused of a "finfluencer" plot to plug dodgy investments on social media.
The 25-year-old has been charged alongside a string of other celebs - including Towie stars Lauren Goodger and Yazmin Oukhellou.
Celebrity Big Brother winner Scott Timlin, also known as Scotty T, and Love Island stars Jamie Clayton, Biggs Chris and Rebecca Gormley are also accused of being part of the alleged scam.
The celebs were allegedly paid to push Instagram posts to their followers that promoted an unauthorised foreign exchange trading scheme.
Zapico appeared at Southwark Crown Court today charged with issuing unauthorised communications of financial promotions.
The reality star did not enter a plea and was bailed to next appear at the same court on October 24.
Her celebrity co-defendants have all denied the charge and will stand trial in either February or March 2027.
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.
They have pleaded not guilty to issuing unauthorised communications of financial promotions.
Nwanze has also pleaded not guilty to one count of breaching the general prohibition of the Financial Services and Markets Act 2000 and one of unauthorised communications of financial promotions.
