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Instagram Forex Scheme: FCA Presses Charges against Nine Individuals
The Financial Conduct Authority (FCA) has initiated legal action against nine individuals concerning their involvement in an unauthorised foreign exchange trading scheme that was promoted via social media channels. Emmanuel Nwanze stands accused of orchestrating an unauthorised investment scheme and disseminating unauthorised financial promotions. According to the FCA's allegations, spanning from May 19, 2018, to April 13, 2021, Nwanze, alongside Holly Thompson, purportedly utilized an Instagram account to dispense guidance on the buying and selling of contracts for difference, despite lacking the requisite ... (full story)