Geordie Shore star Scott Timlin is due in court next month.
The reality star, 36, is making his return to the MTV show and is currently getting ready to film the 25th series with the rest of the cast. They headed to Thailand earlier this week, and are expected to spend three weeks abroad.
However, Scott – who is known as Scotty T – is due to appear at Westminster Magistrates Court next month after being charged in relation to promotions of unauthorised plugging of investments on social media.. He was one of several stars involved, along with Love Islanders Rebecca Gormley, Eva Zapico, Biggs Chris and Jamie Clayton and Towie’s Lauren Goodger and Yazmin Oukhellou.
READ MORE: Want more showbiz? Daily Star has just the thing for you!
READ MORE: Want more TV? Daily Star has just the thing for you!
The charges were brought by the Financial Conduct Authority (FCA), which alleged that individuals named Emmanuel Nwanze and Holly Thompson used an Instagram account that gave advice on buying and selling investments called contracts for difference. However, it is alleged this was done without permission.
(Image: Instagram)
The FCA has alleged that between May 19, 2018 and April 13, 2021, individuals named Emmanuel Nwanze and Holly Thompson used an Instagram account that gave advice on buying and selling investments called contracts for difference. However it is alleged this was done without permission. According to the FCA, contracts for difference “are a high-risk investment product used to bet on the price of an asset, in this case the price of foreign currencies”.
(Image: Newspix/REX/Shutterstock)
The watchdog alleges that Nwanze paid the seven reality TV stars to plug the account – which was called @holly_fxtrends – on their own Instagram accounts, where they have millions of followers between them.
All nine people involved have now been charged with unauthorised communications of financial promotions. Nwanze also faces one count of breaching the General Prohibition under Section 19 of the Financial Services and Markets Act 2000.
(Image: PA)
The FCA has previously said that 80% of customers lose money when investing in contracts for difference because of the risks. On its site it said they are “often highly leveraged, which means they use debt to try and amplify returns, which can result in investors losing more than they invested”.
The stars charged in the case are set to appear before Westminster Magistrates Court on June 13. Scotty is best known for starring in Geordie Shore from 2012 to 2019 and the new series will mark his big comeback. His other TV credits include Just Tattoo Of Us and Ex On The Beach. And in 2016, he won Celebrity Big Brother.
For more of the latest showbiz news from Daily Star, make sure you sign up to one of our newsletters here
Source: Celebrities - dailystar.co.uk
