The Only Way Is Essex (TOWIE) cast member Yazmin Oukhellou, 30, and former Love Island participant Eva Zapico, 25, made an appearance at Westminster Magistrates’ Court on Thursday alongside Geordie Shore star and Celebrity Big Brother winner Scott Timlin, 36.
It is reported that seven television personalities received payment to endorse the program to their 4.5 million Instagram followers in total.
The Financial Conduct Authority (FCA) last month brought charges against a number of people, including Lauren Goodger, 37, a former cast member of The Real Housewives of Beverly Hills, Biggs Chris, 32, Rebecca Gormley, 26, and Jamie Clayton, 32.
Nine persons in all are charged with involvement in an unauthorized foreign exchange trading enterprise.
According to the UK’s financial watchdog, Emmanuel Nwanze, 30, and Holly Thompson, 34, used an Instagram account between May 19, 2018, and April 13, 2021, to offer advice on purchasing and disposing of investments known as contracts for difference (CFDs) when they were not authorized to do so.
According to the FCA, Nwanze paid the seven reality TV celebrities to endorse the account.
The accusations were brought by the watchdog as part of a crackdown on “finfluencers” who provide guidance and information on a range of financial subjects via their online platforms.
