A group of reality TV stars have appeared in court after being charged with promoting an unauthorised investment scheme. Geordie Shore star and Celebrity Big Brother winner Scott Timlin, 36 appeared at Westminster Magistrates' Court alongside former Love Islander Eva Zapico, 25, and The Only Way Is Essex member Yazmin Oukhellou, 30, on Thursday. Seven TV personalities are alleged to have been paid to promote the scheme to their combined 4.5 million Instagram followers.
The watchdog brought the charges in a crackdown on 'finfluencers' who use their online platforms to offer advice and information on various financial topics. CFDs, are defined by the FCA are high-risk investments used to bet on the price of an asset, in this case the price of foreign currencies. Nwanze, Thompson, Chris, Clayton, Goodger, Gormley, Oukhellou, Timlin and Zapico each face one count of issuing unauthorised communications of financial promotions.
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