Love Island, TOWIE Stars Admit Guilt in Instagram Finance Scheme
Seven reality TV stars have admitted guilt in a significant case concerning the promotion of unauthorized foreign exchange trading on Instagram. This landmark prosecution was brought by the Financial Conduct Authority (FCA) and stems from events occurring in summer 2024.
Key Figures Involved
The celebrities implicated are:
- Lauren Goodger, 39, from The Only Way Is Essex
- Yazmin Oukhellou, 31, also from TOWIE
- Rebecca Gormley, 27, Love Island star
- Biggs Chris, 33, another Love Island contestant
- Jamie Clayton, 34, known from Love Island
- Scott Timlin, known as Scotty T from Geordie Shore
- Eva Zapico, 27, a Love Island participant
The Charges and Court Proceedings
Each of the accused reality stars acted as “finfluencers” by encouraging their followers to sign up for foreign exchange (FX) trading tips. Importantly, they did this without any qualifications or authorization from the FCA, as detailed in Southwark Crown Court.
In October 2024, Eva Zapico was the first among them to plead guilty. Following her, Gormley and Chris entered guilty pleas in 2025. Lauren Goodger appeared in court in January 2025, where she also confessed to her involvement.
Guilty Pleas and Sentencing
During the court sessions, it was revealed that Goodger had made several social media posts promoting FX trading accounts. In total, she received £2,275 for four posts made between 2020 and 2021. Her large Instagram following of over 750,000 allowed her posts to reach many, with one video garnering about 35,000 views.
The prosecution highlighted that Goodger’s posts advertised enticing offers, including “amazing deals” and “consistent profits,” often implying that prior experience was unnecessary. One individual who followed Goodger was persuaded to join the trading scheme and subsequently lost £150 of a £250 investment, reflecting the potential risks to the public.
Consequences and Public Interest
Judge Sally-Ann Hales lifted reporting restrictions on the case, noting the public interest in the matter. She stated that social media is inundated with unregulated FX trading promotions and that accurate reporting is critical.
In her sentencing, Goodger broke down as she learned the case’s implications. Despite acknowledging her lack of awareness regarding the wrongdoing, the judge emphasized that her significant social media presence should have alerted her to the potential impact of her endorsements.
Other Sentences
Goodger was fined £3,750 and ordered to pay legal costs of £5,778.18. Zapico received an absolute discharge with £1,770 in costs, while Gormley received a conditional discharge along with £2,866 in costs, and Chris faced a fine of £600.
This case underscores the importance of regulation and accountability among influencers in the financial sector. As social media continues to grow, the lines between promotion and legality remain crucial for protecting the public.
