Overview

• The Financial Conduct Authority (FCA) has charged nine reality TV stars for promoting an unauthorised foreign exchange trading scheme on Instagram.
• Defendants include Scott Timlin, Eva Zapico, Yazmin Oukhellou, Lauren Goodger, Biggs Chris, Jamie Clayton, and Rebecca Gormley.
• The scheme involved contracts for difference (CFDs), which are high-risk investments with a high likelihood of customer losses.
• Emmanuel Nwanze and Holly Thompson are accused of running the scheme and paying the influencers to promote it.
• A trial preparation hearing is set for July 11, with all defendants granted unconditional bail until then.