On Monday, we reported that seven ‘finfluencers’, all reality TV personalities, had been sentenced for their roles in promoting an unauthorised foreign exchange trading scheme.
All seven had pleaded guilty to one count of issuing unauthorised financial promotions, with sentences handed down at Southwark Crown Court. Among them there were apparently recognisable faces from Love Island, The Only Way is Essex and Georgie Shore. I say ‘apparently recognisable' because I have never seen any of these shows, but perhaps it's me that lives under a rock, because the group boast a combined Instagram following of 4.5 million. The sentences imposed send a message. Unfortunately, that message may well be to the consternation of regulated financial advice profession...
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