Reality TV Stars Face Trial for Promoting Unauthorised Trading Schemes on Instagram

British reality TV stars Emmanuel Nwanze and Holly Thompson, along with several others, are set to face trial in 2027 for allegedly promoting unauthorised trading schemes on Instagram. The Financial Conduct Authority charged them with issuing unauthorised financial promotions, particularly targeting social media followers without proper authorisation.

British reality TV stars Emmanuel Nwanze and Holly Thompson, along with others, are set to face trial in early 2027 for allegedly promoting unauthorised trading schemes on Instagram. They pleaded not guilty in a London court on Thursday.

Nwanze and Thompson are accused of offering advice on high-risk foreign exchange contracts for difference between 2018 and 2021 without proper authorisation. The Financial Conduct Authority (FCA) claims Nwanze paid reality TV personalities to promote the @holly_fxtrends account on social media.

This marks the FCA's first crackdown on 'finfluencers' - social media influencers who offer financial advice. If convicted, the defendants could face fines and up to two years in jail.