‘Love Island’ Stars Deny Promoting Unauthorised Trading Schemes on Instagram

Published on July 4, 2024

Three former “Love Island” stars have pleaded not guilty to promoting unauthorised trading schemes on social media. Biggs Chris, 32, Jamie Clayton, 32, and Rebecca Gormley, 26, entered their pleas on Wednesday at Westminster Magistrates’ Court. It has been alleged that the former reality TV stars pushed an unsanctioned venture to their Instagram followers. The Financial Conduct Authority (FCA) charged nine influencers, including former stars of reality shows “Geordie Shore” and “The Only Way Is Essex” (Towie), with promoting an unauthorised financial scheme. The scheme was allegedly run by 30-year-old Emmanuel Nwanze, who has been charged with issuing unauthorised financial promotions between 2018 and 2021. The watchdog alleges that Mr. Nwanze and Holly Thompson, 33, ran an Instagram account under the handle @holly_fxtrends. It reportedly advised its followers on buying and selling investments called contracts for difference (CFDs) without authorisation from the regulator....

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