Ex-Love Island Stars Plead Not Guilty to Promoting FX Schemes

A group of reality TV stars and social media influencers pleaded not guilty to accusations that they promoted an unauthorized foreign exchange trading product to millions of Instagram followers.

The Financial Conduct Authority charged Emmanuel Nwanze, 30, and Holly Thompson, 34, of running an Instagram account that gave advice on buying and selling contracts for difference without authorization. Nwanze allegedly ran the FX trading platform and issued unauthorized financial promotions.

The watchdog said Nwanze then paid stars to promote the investments including former Love Island contestants Rebecca Gormley, Biggs Chris and Jamie Clayton, as well as The Only Way is ...