Two cast members of the TV show Shark Tank have been sued for fraud.
Kevin Harrington and Kevin O’Leary are accused of running a ‘structured scam’ that bilked business owners out of thousands of dollars.
The two television personalities were collectively sued by 20 individuals who claim they were promised financial success and a chance to be on the popular TV show through the use of nonexistent ‘executives.’
These entrepreneurs further allege that they were promised help for crowdfunding after they invested in either of the men’s two companies: InventureX or Ideazon.
However, O’Leary and Harrington seemed to fall flat on their promise of helping these entrepreneurs out as soon as they got the cash.
The plaintiffs claim they have lost thousands of dollars perpetrated by O’Leary and Harrington and are seeking compensation for financial loss, legal fees, and emotional distress, according to Entertainment Tonight.
For those unfamiliar, “Shark Tank” is an ABC original series that gives people the opportunity to pitch business ideas to a panel of judges. The judges then invest in whoever sold their vision the best, making the show a condensed, flashy version of the business world.
The show has been on the air since 2009 and has featured such investors from NYC Housewife Bethenny Frankel to actor Ashton Kutcher.
TMZ states that O’Leary currently denies any involvement in such fraud. Harrington has yet to release a public statement as of the writing of this post.