Connect with us

Finance

The true cost of being cancelled: Stars face financial ruin after being embroiled in scandal – but who has a buffer of cash and assets to fall back on if they never work again?

Published

on

The true cost of being cancelled: Stars face financial ruin after being embroiled in scandal – but who has a buffer of cash and assets to fall back on if they never work again?

Cancel culture is now so virulent and dangerous that stars are even buying insurance to protect themselves from financial and reputational ruin.

And no wonder, because MailOnline can today reveal how stars such as Phillip Schofield are losing millions each year after being sent into the celebrity wilderness.

One star whose work has dried up amid allegations of sexual impropriety claims to be £10million worse off – with just £320 left in one business, down from £432,583.

Exclusive analysis of publicly-available company accounts reveal how stars’ earnings have fallen off a cliff since leaving the public eye due to various scandals.

Mr Schofield’s long career means that while his gigantic earnings from This Morning, Dancing on Ice and advertising deals have vanished, he still enjoys the cushion of millions of pounds in cash and assets including several properties.

Advertisement

Gino D’Acampo has built up a nest egg of around £6million from his ITV work and book deals over the past five years – but with no new shows on the way his earnings will take a hit of around £1million-a-year if the work runs out.

And for fallen stars like Gregg Wallace and Wynne Evans, their financial future could be bleak unless they can get their own careers back on track, especially without the comfort blanket of a BBC salary.

Noel Clarke, who was cancelled in 2021 and is fighting for his reputation in the High Court in a high-profile libel case with The Guardian newspaper, faces near-complete financial ruin if he loses the case.

Phillip Schofield is losing an estimated £1.4 million-a-year since quitting his job as This Morning presenter in June 2023.

The star, 62, left the show having admitted to having an affair with a junior colleague and then quit ITV altogether, leaving behind a host of well-paid presenting gigs.

Advertisement

He was earning £730,000 for the This Morning presenter role with Holly Willoughby but also picked up a reported £45,000 an episode for Dancing on Ice, which runs for 10 episodes per year.

Presenting other shows like British Soap Awards, BBC game show The Cube, and an ITV series called How To Spend It Well all added to his lucrative annual earnings.

Away from the screen, Schofield has built up a cache of valuable assets, including properties.

Schofield admitted to a relationship with a much younger male colleague (pictured centre) and having lied about it to bosses – as well as his loved ones

Advertisement
Phillip and Stephanie Lowe married in 1993 and raised two daughters, Molly, right, and Ruby, left. His daughters are also huge supporters - Molly is his publicist

Phillip and Stephanie Lowe married in 1993 and raised two daughters, Molly, right, and Ruby, left. His daughters are also huge supporters – Molly is his publicist

He sold a flat he was said to have used to entertain his lover for £1million last year, making a loss of £250,000 on what he paid for it.

He also owns a mansion in Henley-on-Thames outright, which is thought to be worth at least £5million.

In 2020 he picked up £1.2million for a book deal for his autobiography Life’s What You Make It.

Accounts for his two companies show they had assets of £3million in May 2023, soon after he quit This Morning. 

Advertisement

Fistral Productions, for his TV work, held £2.137million in the year he quit This Morning. His wife Stephanie Schofield is listed as a co-director.

He also has a company called Fistral Property, with assets of £900,000. Mrs Schofield is also a co-director.

Potential loss: £1.4 million-a-year 

Gino D’Acampo 

Gino D’Acampo has seen the value of his company rocket by an average of £979,000-a-year for the last five years and is now worth just under £6million.

But it means he could now stand to lose £1 million a year – or potentially more – if his career had continued to blossom at the same rate.

Advertisement

He lives in a £1.25million house in Hertfordshire, with wife Jessica, who is a director of his companies and the mother of his three children.

In February, ITV pulled all Gino D’Acampo’s shows from its upcoming schedules.

The TV chef, 48, has been accused of ‘sexually inappropriate’ behaviour spanning 12 years while filming his hit food and travel programmes. He denies the claims.

Mr D’Acampo has faced accusations including using sexualised and aggressive language on TV sets including ‘Gino’s Italian Express’, ‘Gordon, Gino and Fred’s Road Trip’ ‘Gino’s Italy: Secrets of South’, ‘Like Mamma Used to Make’ and ‘Emission Impossible’. 

ITV then changed its schedules to ensure he will not appear on our screens. But many of his shows remain available on its ITVX streaming service. 

Advertisement

The new series of Family Fortunes, the iconic family gameshow hosted by Gino, was due for broadcast in early 2025 but has also been canned by ITV. 

Gino is the host of Family Fortunes. Episodes have been pulled and the new series canned

Gino is the host of Family Fortunes. Episodes have been pulled and the new series canned

The Italian star (centre), 48, who regularly appeared on ITV's This Morning (pictured) when Schofield was a co-host, has been 'cancelled' following multiple allegations of sexually inappropriate and intimidating behaviour

Gino D’Acampo, pictured with Holly Willoughby and Phillip Schofield, honours his promise to cook naked on This Morning if they won at the 2011 NTA Awards. Gino has become known for stripping off on screen

Gino D'ACampo and wife Jessica

Gino D’ACampo and wife Jessica

Gino ‘said and did whatever he wanted’ while working for ITV – as his alleged victims insisted they were ‘too afraid’ to make complaints at the time. 

Advertisement

Sources told MailOnline that ITV began to ease out Gino in the wake of the scandal that engulfed the BBC over MasterChef’s Gregg Wallace, especially after Phillip Schofield’s bitter exit from This Morning.

But amid questions about why they didn’t raise incidents spanning 12 years, most of the women told ITV News they were ‘too afraid’ to make complaints about D’Acampo because they were self-employed and feared being ostracised in TV.

After a bumper few years, Gino’s company has seen its value increase by between £500,000 and £2.06million each year between 2019 and 2024. 

It currently has £2million in cash in the bank. The company is now worth £4.9million.

MailOnline estimates that his total net worth is £5.7million.

Advertisement

Potential loss: £979,000-a-year

Gregg Wallace 

Gregg Wallace had been earning an estimated £400,000-a-year from his Masterchef role, which, as is suspected, will now be lost if he does not return to TV.

The former MasterChef host, 60, stepped down from hosting the BBC show with Jon Torode in November after multiple complaints of inappropriate behaviour on set.

Before his big break, the star used all his Cockney charms to create an appealing TV persona – ‘the fat, bald bloke off the telly who likes pudding’, as he once styled himself.

But he initially made his living as a greengrocer, although market traders he once worked alongside have claimed they were the ones left counting the cost of his success. 

Advertisement

With his six-figure BBC salary on hold, Gregg has a separate fitness business on the side called Showme.fit which is currently worth £108,663. 

There is also a new health and food business, whose accounts are not yet available.

Ex-MasterChef judge Gregg Wallace was spotted for the first time in February after not being out in public since November 28, 2024

Ex-MasterChef judge Gregg Wallace was spotted for the first time in February after not being out in public since November 28, 2024

Wallace co-hosted Masterchef for 17 years alongside John Torode (left)

Wallace co-hosted Masterchef for 17 years alongside John Torode (left) 

But he stepped back amid an investigation into his conduct over a period of 17 years

But he stepped back amid an investigation into his conduct over a period of 17 years

Advertisement

He also has £32,000 held in his company Lobster Enterprises Ltd, where his TV money is paid into.

George Allan’s Greengrocers, the company Wallace founded in 1989, was built into a business with a £7.5million turnover.

But last year a former manager claimed Gregg left behind £1.5 million in debt – and a host of disgruntled ex-colleagues – when the firm went under in 2000. 

In his 2012 autobiography, Life on a Plate, Wallace acknowledged: ‘We were owed millions and we owed millions to wholesalers in the market’.

He also described how he ‘didn’t have to pick up all the bills personally’ after Gregg Allan’s failed, since it was a limited company, and hit back at the idea that fame had resulted in a loss of focus on his part.

Advertisement

‘Many of the traders had joined forces and said they refused to employ me,’ wrote Wallace. 

‘It wasn’t fair but they blamed me for George Allan’s closure. They thought I’d got too fancy and big for my boots, being on telly now, and I let it all go to pot.

‘Nothing could’ve been further from the truth, though. It’s always the way: the last one out to turn off the lights, gets the blame.’

Gregg founded George Allan’s Greengrocers in 1989 and built the company into a business with a £7.5 million turnover

Gregg founded George Allan’s Greengrocers in 1989 and built the company into a business with a £7.5 million turnover

In 2014 Gregg was forced to close his Wallace and Co restaurant in Putney, South West London and sell its parent company Wallace Cafes.

Advertisement

Since then he has relied on his £400,000-a-year MasterChef salary, which is now hanging in the balance.

Much of the earning pressure is now on his ShowMe.Fit app, which he advertises using his popular Instagram account. But it emerged last year that he borrowed £70,000 to keep it going.

It is currently worth £108,663, according to the accounts.

Lobster Enterprises Ltd, where his TV cash is paid into, paid tax suggesting it made a £400,000 profit. But it is worth £32,000, according to the latest accounts.

The shamed Masterchef star, 60, also set up Gregg Wallace.Health after he himself shed five stone, with the business offering recipes, advice from experts and frozen ready deliveries.

Advertisement

The website reads: ‘Ready to transform your health and feel your best? – no risks, just results. Cancel anytime’.

However in recent weeks fans who signed up have furiously taken to review bible Trustpilot and claimed they are being incorrectly charged and are struggling to get their money back.

One customer fumed: ‘What a scam. I cancelled my membership when they changed apps. However [it] managed to do an auto renewal of my membership and deducted an annual subscription for a non functioning App. Getting no reply on their email for a refund. Customer service terrible and would not recommend them’.

Potential loss: £400,000-a-year 

Noel Clarke 

Noel Clarke said that his work completely dried up the moment The Guardian story about his alleged sexually inappropriate behaviour was published.

Advertisement

In court papers he has detailed more than £10million in lost earnings since the article in April 2021.

One company he still runs called Astonishing Entertainment Limited, had assets of £432,583 in the 12 months up to the end of March 2021, when the allegation was made.

The same company now has just £320 according to the most recent accounts which cover the 12 months to the end of March 2024.

His company Unstoppable Film and Television Limited was bought by powerful TV production company ALL 3 Media, which was behind Fleabag, in 2018, but Clarke and business partner Jason Maza stood down in August 2021 after the Guardian claims were published. 

Noel Clarke arrives at the Royal Courts of Justice this week for his libel case against The Guardian

Noel Clarke arrives at the Royal Courts of Justice this week for his libel case against The Guardian

Advertisement

The company had assets of £3.3million in the months before the bombshell newspaper claims.

In court papers Clarke catalogued the earnings he was losing as a consequence of being cancelled.

They were a Sky TV show Bulletproof, series 4, where he lost his fee for acting in 10 episodes – £585,000, his fee for writing two episodes – £90,000 – his fee for directing two episodes – £90,000 – and anticipated royalties of £250,000.

The Guardian article came out midway through an ITV series Viewpoint which was immediately taken off the air.

But a second series had already been commissioned meaning he lost his fee – £270,000, anticipated royalties of an estimated £200,000.

Advertisement

Advanced plans for a Channel 5 TV show Highwater which would have begun shooting in winter 2021 meant he lost a producer bonus – in the region of £60,000.

A BBC TV show called Crongton was ‘greenlit’ was ditched and meant he would not get a producer bonus – in the region of £60,000.

Clarke is known for his role in Doctor Who as Mickey. He is pictured here alongside Billie Piper who played Rose Tyler

Clarke is known for his role in Doctor Who as Mickey. He is pictured here alongside Billie Piper who played Rose Tyler

Noel Clarke pictured as DC Martin Young in the ITV Series Viewpoint

Noel Clarke pictured as DC Martin Young in the ITV Series Viewpoint

A StudioCanal movie Something in the Water would have earned him a producer bonus in the region of £40,000.

Advertisement

He would also have earned a minimum salary from his ex production company Unstoppable Film and Television of £1.25million over 10 years not including raises or bonuses.

He also said the projected approximate value of shares in Unstoppable Film and Television, which he says has now been ‘wiped out’, would have been £7million.

Potential loss: £10million 

Wynne Evans

Wynne Evans has almost £1million in cash and assets sitting in the bank, his latest accounts reveal.

But he has had to step away from the public eye after making a lewd joke that saw him have to leave the lucrative Strictly Come Dancing tour this year. 

Advertisement

Evans, 53, who made a sick sexual comment about dancer and broadcaster Janette Manrara, has also been replaced in his BBC Radio Wales show. 

Wynne Evans Ltd handles the majority of his media earnings, including his Go Compare commercial work.

GoCompare has repeatedly refused to say whether they are going to sack Wynne from his role, which is believed to worth at least £200,000-a-year. 

Wynne Evans is said to earn £200,000-a-year as the face of Go Compare

Wynne Evans is said to earn £200,000-a-year as the face of Go Compare

The Go Compare star reportedly believes his reputation has been unfairly left 'in tatters' after he apologised for a vile remark aimed at tour host Janette Manrara, when footage emerged of the comment at the tour's press launch

The Go Compare star reportedly believes his reputation has been unfairly left ‘in tatters’ after he apologised for a vile remark aimed at tour host Janette Manrara, when footage emerged of the comment at the tour’s press launch

Advertisement

Accounts for year to end of May 2024, filed in February show he has cash and assets of £734,830 – down from £761,798 the year before. 

He paid £12,186 in tax.

It does not include what he was paid to be on Strictly and its live tour before he was forced to walk away from.

He owns a flat in Croydon bought for £198,000 in 2014. It is now worth an estimated £288,000. 

His ex-wife Tanwen Evans owns a home in Cardiff bought for £465,000 in 2013, now worth £875,000.

Advertisement

He has a management company which manages the flat in Croydon but it is dormant.

But he disbanded another company seven years ago and he is one of many director-board members of a Opera theatre called Grange Park Opera in West Horsley.

When the Go Compare and Strictly star discussed the house he moved into after his divorce he described it as ‘sad and derelict’, backing onto busy a railway track and saying it cost £500,000 to make it fit to live in.

Back in January, the opera singer, 53, stepped down from the Strictly Come Dancing live tour after coming under fire for making a vile remark aimed at host Janette Manrara [pictured with Katya Jones]

Wynne Evans ‘ lawyers have reportedly compiled a 30-page dossier to take to showdown talks with the BBC as he fights to keep his beloved radio job

Wynne previously revealed he hit 'rock bottom' at the end of his marriage to Welsh violinist Tanwen (seen together in 2011)

Wynne previously revealed he hit ‘rock bottom’ at the end of his marriage to Welsh violinist Tanwen (seen together in 2011) 

Advertisement

But pictures unearthed by MailOnline revealed that the stunning Edwardian villa was apparently in immaculate condition, with well presented rooms and gardens, packed with period features and in good condition.

And at more than £700,000 it was more than four times the then average property price for Cardiff.

In a recent interview discussing his 2015 divorce, the opera singer was bemoaning the state of the house in Cardiff which he bought after splitting from Tanwen and moving away from his two children.

He claimed the five-bedroomed house was ‘all he could afford’ and said he had spent £500,000 on improvements.

The house with three bathrooms in the leafy area was described at the time he bought it, in 2016, was certainly dated, and needed some modernising, but according to Evans it had ‘boarded-up windows’ and his then teenage children had to sleep in tents in their bedrooms during early visits. 

Advertisement

Potential loss: At least £200,000-a-year 

Finance

IMF warns tokenization could bring crypto risks into global financial markets

Published

on

IMF warns tokenization could bring crypto risks into global financial markets

Tokenization, the representation of real-life assets on a blockchain, could reshape both crypto markets and traditional finance, while introducing new risks that regulators are not yet equipped to manage, according to the International Monetary Fund (IMF).

In a new report, the IMF described tokenization as more than a technical upgrade to markets. By moving assets like money, bonds and funds onto shared blockchains, transactions can settle instantly, cutting out intermediaries and reducing delays that define today’s markets.

The IMF says the “atomic settlement” that tokenization brings to the financial world could lower counterparty risk and force firms to manage liquidity in real time.

“Stress events are likely to unfold faster, leaving less time for discretionary intervention,” the report reads. “Therefore, ensuring stability requires that tokenized asset management remains anchored in safe settlement assets, legally recognized finality, and robust governance arrangements.”

The report points to stablecoins — tokens whose value is pegged to a fiat currency — as a key bridge between crypto and traditional finance. These could become widely used settlement assets across tokenized platforms, the report said.

Advertisement

Still, their reliability depends on reserves and redemption systems, leaving them exposed to runs under stress.

The IMF also warned that faster, automated markets could amplify volatility, while smart contracts that trigger margin calls or liquidations may accelerate selloffs during downturns. Such rapid declines have been seen in crypto markets,

Tokenized assets also can move instantly across jurisdictions, complicating oversight and raising concerns about capital flight and currency substitution in emerging markets, the IMF wrote.

The organization called for clearer legal frameworks and stronger global coordination, arguing that without them, tokenized finance could deepen fragmentation rather than improve efficiency.

Tokenization has been a growing theme in the crypto sector. Real-world assets added to blockchain rails have already topped $23.2 billion according to DeFiLlama data. Excluding stablecoins, the majority of that figure is in the form of tokenized gold or money market funds.

Advertisement
Continue Reading

Finance

‘Hidden helpers’ supporting people struggling to manage their finances digitally

Published

on

‘Hidden helpers’ supporting people struggling to manage their finances digitally

Some people are relying on potentially risky workarounds to manage their finances, a report has found.

Friends, family, carers and neighbours are spending hours each month patiently helping others with basic banking tasks, yet many “financial helpers” are doing so without any formal authority and help is often based on trust, according to a survey.

The research was led by consumer finance expert Faith Reynolds, with support from cash access and ATM network Link.

YouGov surveyed nearly 850 people across the UK who had helped someone with their banking or money management between December 2024 and December 2025.

The report found that people being helped often log in themselves with a helper beside them.

Advertisement

But a quarter (26%) of people surveyed said the person they help shares passcodes or security details with them.

And 17% said the people they help allow them to log in on their behalf on the helper’s device.

The report said: “Financial help is increasingly essential because, as branches have closed and banking has become digital, the responsibility for navigating complexity and preventing fraud has quietly shifted from institutions to individuals and families.”

More than half (54%) of people said they have no formal authority or access rights at all, meaning many people are relying on informal workarounds to provide the help needed.

While many helpers said they worry they will be accused of taking advantage of the person they are helping, 43% highlighted the risk of fraud and scams as a top concern for the person being helped.

Advertisement

Three in 10 (28%) said they had helped to stop or prevent scams or fraud.

The top tasks helpers selected include checking account balances, assisting with online payments or passcodes when shopping online, and making or scheduling payments.

To provide this support, financial helpers use mobile banking apps the most, followed by online banking via websites and ATMs.

The support provided is also not limited to banking, with 45% of helpers assisting others to use digital devices, 41% helping with managing utilities or bills, and 31% helping with using or setting up their television.

Nearly a third (31%) help setting up health appointments and 28% set up broadband or internet services.

Advertisement

Financial helpers are often fitting in helping alongside work and family commitments, such as children and jobs.

One helper told researchers they had been helping “about five years when their bank branch closed… They asked me for help after throwing their phone across the room because they couldn’t even log in.”

Another helper said: “Because of the rise of AI and scams, my father fell victim to this and couldn’t believe that the person wasn’t real.

“This is what made me realise he needed some help with any new payments because I needed to sense-check that they were genuine.”

Advertisement

Faith Reynolds, director, Devon Fields Consulting, said: “For many people digital banking feels complicated and in some cases scary. They are turning to trusted friends, family and neighbours to help them make sense of it all.

“In turn, they have become the ‘shadow infrastructure’ for the digital banking ecosystem, in some cases resorting to risky, informal workarounds to make things work.”

John Howells, chief executive, Link, said: “The scale of hidden help is further proof that digital banking doesn’t yet work for everyone.”

Caroline Abrahams, charity director at Age UK, said: “As more and more banking services are delivered online, it’s increasingly important that older people who don’t use online services can continue to manage their money safely.

“This fascinating research explains how many lacking digital skills or access cope, and reveals a big gap between the theory and the reality of what happens when banks close down their physical services: instead of people simply adopting online services with ease, many will look for workarounds which are often high risk, such as sharing passwords or financial details with third parties.”

Advertisement

She added that while the industry has done a lot to roll out banking hubs, where banks share services in one space, “gaps still exist”.

Ms Abrahams added: “The result is that many people are forced into other ways of looking after their money, leaving digitally excluded, often-vulnerable customers at a significant disadvantage.”

A UK Finance spokesperson said: “The banking industry is committed to supporting all customers by ensuring that products and services are accessible and easy to use for everyone, while also protecting them from fraud.

“As fewer people are using bank branches, banks have closed some and are offering face-to-face support through the Post Office and the expanding network of shared banking hubs.

“They also continue to provide guidance and financial education to help people manage services confidently, so customers should speak to their bank about the support available to them.”

Advertisement
Continue Reading

Finance

Islanders encouraged to check car finance deals

Published

on

Islanders encouraged to check car finance deals
The FCA said firms are expected to pay £7.5bn to people who took out eligible motor finance deals, with the administrative cost of the scheme predicted to reach £1.6bn [PA Media]

Motorists in Jersey have been urged to check car finance deals after millions of drivers were mis-sold motor finance agreements and are set to receive compensation later this year.

The Financial Conduct Authority (FCA) set out its proposal for a redress scheme, costing lenders £9.1bn, last week – it’s estimated 12.1 million motor finance deals will meet the criteria.

The Jersey Consumer Council has encouraged anyone who thinks they might have been mis-sold car finance to contact the dealership or finance company who sold it.

It has created downloadable template letters for people to use to investigate potential commission issues in their agreements.

Pay-outs are expected to total an average of around £829 per person in compensation.

Advertisement

It said the letters, which can be sent to both car dealers and finance, would allow “consumers to take the first formal step in establishing how their finance was arranged”.

It said it was intended to help those affected find out whether commission was paid on their motor finance and whether that commission may have influenced the interest rate or terms of the loan.

Claims can be made for any car finance taken out after 2010.

The Consumer Council said in Jersey as with the UK, some arrangements allowed dealers to increase the interest rate offered to a customer in order to earn a higher commission, a practice that had since attracted regulatory and legal scrutiny.

It said the key issue was “transparency”.

Advertisement

“Borrowers should have been clearly told whether commission was being paid, how it was calculated, and whether it could affect the cost of their borrowing.”

The council said the letters were designed to be straightforward, and request written confirmation of whether discretionary or flat commission arrangements applied, or whether there were exclusive relationships between dealers and finance companies.

It added if commission arrangements did apply and were not disclosed, the letters allow customers to raise a formal complaint.

If firms were unable to confirm the position, the correspondence could also operate as a data subject access request, requiring companies to provide relevant records under Jersey’s data protection law.

It said once people received either a rejection letter, or no reply within three months, they could raise the issue with the Channel Islands Financial Ombudsman.

Advertisement

Follow BBC Jersey on X and Facebook. Send your story ideas to channel.islands@bbc.co.uk.

Continue Reading

Trending