Love Island’s Eva Zapico appeared in court today charged with promoting a ‘high-risk’ foreign exchange scheme on Instagram, Daily Mail reports.
According to the report by Daily Mail, Eva Zapico, 25, along with fellow Love Islander Biggs Chris, 32, 2016 Celebrity Big Brother winner Scott Timlin, 36, and original TOWIE cast member Lauren Goodger, 37, were allegedly paid to promote the scheme to 4.5 million Instagram followers.
Also charged by the Financial Conduct Authority (FCA) are former Love Islanders Rebecca Gormley, 26, Jamie Clayton, 32, Zapico and TOWIE member Yazmin Oukhellou, 30.
The social media influencers and reality TV ‘entrepreneurs’ allegedly promoted @holly-fxtrends to millions of Instagram followers.
Eva Zapico appeared at Southwark Crown Court with manicured nails, a white shirt and a long black coat.
She is yet to enter a plea to one count of issuing unauthorised communications of financial promotions on or about April 2, 2020.
Judge Sally-Ann Hales told the star: ‘We may need you back here on October 24, bail remains unconditional same as before.’
Timlin, Clayton and Nwanze, Goodger, Chris, Gormley, Oukhellou and 33-year-old Holly Thompson – also known as Holly Zucchero – all denied issuing unauthorised communications of financial promotions at a previous hearing.
They are said to have promoted a foreign exchange scheme, linked to high-risk derivatives, run by Emmanuel Nwanze, 30.
He allegedly paid seven of the influencers to promote an Instagram account that provided advice on buying and selling contracts for difference (CFDs) to their combined 4.5mn followers between 2018 and 2021.
Nwanze denies one count of breaching the general prohibition of the Financial Services and Markets Act 2000 and one of unauthorised communications of financial promotions.
Judge Hales had earlier said the influencers would stand trial either on 1 February 2027 or 15 March 2027.
Goodger, Chris, Gormley, Clayton, Zapico, Thompson, Timlin and Oukhellou are all released on unconditional bail.
The case brought by the FCA relates to the ‘promotion of the unauthorised provision of such advice through an Instagram account, using the handle ‘@holly-fxtrends’ (‘the Holly account’) and the promotion of that account by a number of social media ‘influencers’.
The Holly account was registered, between 1 March to 26 May 2020, in the name of ‘Holly Zucchero’ with an e-mail address of holly-fxtrends@hotmail..com.
According to the prosecution, Holly Zucchero is and was, a persona adopted by the second defendant, Holly Thompson’.
It was allegedly used to promote a foreign exchange trading service and ‘combined images of Ms Thompson, often in glamorous locations or surrounded by high value goods, with FX trading related posts.