UK - TOWIE's Lauren Goodger (37), Geordie Shore's Scott Timlin (36) and 7 other reality TV/Social media personalities charged in "finfluencer" Scheme

[bobbymkii]

Reality stars appear in court charged over risky investment plugs

Nine influencers have been charged by the Financial Conduct Authority ( FCA ) in relation to an unauthorised foreign exchange trading scheme promoted on social media.

www.dailymail.co.uk

 

[bobbymkii]

I move to nickname this trial the "Everything that's wrong with social media celebrity culture in Britain" trial.

I haven't watched "reality TV" in a long long time, but I did used to watch Geordie Shore, and I never looked at Scotty Timlin and thought "I would definitely make a financial investment if he was paid to promote it!"

JMO

 

[bobbymkii]

The defendants’ dates of birth are as follows:
a. Emmanuel Nwanze (DoB 07/01/1994)
b. Holly Thompson (also known as Holly Zucchero) (DoB 25/05/1990)
c. Biggs Chris (DoB 15/05/1992)
d. Jamie Clayton (DoB 18/11/1991)
e. Lauren Goodger (DoB 19/09/1986)
f. Rebecca Gormley (DoB 18/04/1998)
g. Yazmin Oukhellou (DoB 03/05/1994)
h. Scott Timlin (DoB 26/04/1988)
i. Eva Zapico (DoB 23/07/1998)

Emmanuel Nwanze has been charged with running an unauthorised investment scheme and issuing unauthorised financial promotions.

Ms Thompson, Mr Chris, Mr Clayton, Ms Goodger, Ms Gormley, Ms Oukhellou, Mr Timlin and Ms Zapico each face one count of issuing unauthorised communications of financial promotions.

snipped from this article:

'Finfluencers’ charged for promoting unauthorised trading scheme

The FCA has brought charges against nine individuals in relation to an unauthorised foreign exchange trading scheme promoted on social media.

www.fca.org.uk

 

[SpaceOdyssey]

I too confess to having previously watched Geordie Shore @bobbymkii and I would not buy so much as a packet of sweets from Scotty T

It will be an interesting case though, as it’s not just that they advertised these poor financial products but that they did so to their online audience of young and probably not very financially aware people. The ASA should be taking far more action against influencers. Instagram is full of undeclared ads and bad deals. Watching with interest!

 

[bobbymkii]

Also looking at the DM article in my original post. The article gives a short biography of all of the defendants, and I lost count of the number of them who "now work in real estate in Dubai." That can't be a coincidence!

 

[bobbymkii]

More Not Guilty pleas

Love Island ‘finfluencers’ deny part in unauthorised Instagram trading scheme

Three former Love Island stars plead not guilty to promoting CFDs

www.theguardian.com