A group of social media influencers including TOWIE star Lauren Goodger have denied promoting a 'high-risk' foreign exchange scheme to millions of followers.
The 37-year-old original TOWIE cast member, along with former Love Island star Jamie Clayton, 32, and 2016 Celebrity Big Brother winner-turned Geordie Shore star Scott Timlin, 36, were allegedly paid to promote the scheme to 4.5million Instagram followers.
Also charged by the Financial Conduct Authority (FCA) are former Love Islanders Rebecca Gormley, 26, Biggs Chris, 32, and Eva Zapico, 25 and TOWIE member Yazmin Oukhellou, 30.
The social media influencers and reality TV 'entrepreneurs' allegedly promoted @holly-fxtrends but all denied issuing unauthorised communications of financial promotions.
But whatever the outcome, nothing will be decided until 2027 - when trial dates have been set.
A group of social media influencers including TOWIE star Lauren Goodger have denied promoting a 'high-risk' foreign exchange scheme to millions of followers
Celebrity Big Brother winner-turned Geordie Shore star Scott Timlin appeared at Southwark Crown Court to deny issuing unauthorised communications of financial promotions
Former Love Islander Jamie Clayton also appeared in person today. Goodger, Biggs Chris, Rebecca Gormley, Yazmin Oukhellou and 33-year-old Holly Thompson - also known as Holly Zucchero - appeared via video link
They are said to have promoted a foreign exchange scheme, linked to high-risk derivatives, run by Emmanuel Nwanze, 30.
Timlin, Clayton and Nwanze appeared in person at Southwark Crown Court today, with Goodger, Chris, Gormley, Oukhellou and 33-year-old Holly Thompson - also known as Holly Zucchero - appeared via video link. Zapico was excused from court today and will enter a plea on September 26.
Nwanze allegedly paid seven of the influencers to promote an Instagram account that provided advice on buying and selling contracts for difference (CFDs) to their combined 4.5m followers between 2018 and 2021.
He denied one count of breaching the general prohibition of the Financial Services and Markets Act and one of unauthorised communications of financial promotions.
Judge Sally-Ann Hales said due to the court only accommodating six defendants at a time the prosecution must indicate how they will split the nine defendants into two separate trials.
She told the influencers their trial would be either the four weeks commencing February 1, 2027, or March 15, 2027 - depending on that split.
Ms Hales added: 'At the moment it's not possible to say which of those trial dates will apply to you as individuals I'm afraid you're going to have to keep the entirety of that period clear until September this year.'
The reality TV stars are said to have promoted a foreign exchange scheme, linked to high-risk derivatives, run by Emmanuel Nwanze (also seen at court)
The influencers were all released on unconditional bail.
The case brought by the FCA relates to the 'promotion of the unauthorised provision of such advice through an Instagram account, using the handle '@holly-fxtrends' ('the Holly account') and the promotion of that account by a number of social media 'influencers'.
The Holly account was registered, between 1 March to 26 May 2020, in the name of 'Holly Zucchero' with an e-mail address of [email protected].
According to the prosecution, Holly Zucchero is and was, a persona adopted by the defendant, Holly Thompson'.
It was allegedly used to promote a foreign exchange trading service and 'combined images of Ms Thompson, often in glamorous locations or surrounded by high value goods, with FX trading related posts.
