Love Island and Towie stars plead guilty over illegal Instagram finance scheme
Reality TV stars plead guilty to illegal Instagram trading promotions
- Seven reality stars and influencers, including Lauren Goodger and Scott Timlin, have pleaded guilty to the illegal promotion of foreign exchange (FX) trading on Instagram.
- The individuals acted as 'finfluencers', urging their followers to sign up for FX trading tips accounts despite lacking qualifications or authorisation from the Financial Conduct Authority (FCA).
- The landmark criminal prosecution was launched by the FCA in summer 2024, with guilty pleas entered by various stars between October 2024 and this year at Southwark Crown Court.
- The court heard that the stars were paid for posts advertising 'amazing deals' and 'consistent profits', with one victim losing £150 after being persuaded by Lauren Goodger's posts.
- Sentences included Lauren Goodger receiving a £3,750 fine and £5,778.18 in costs, while Eva Zapico received an absolute discharge and Rebecca Gormley a conditional discharge.
Bookmark popover
Removed from bookmarks