Kevin O’Leary of Shark Tank and alum Kevin Harrington are named in a fraud lawsuit by crowdfunding companies
Kevin O’Leary and Kevin Harrington of the ABC Shark Tank program have been named in a 20-person lawsuit accusing them of promoting a “predatory fraud scheme” involving start-ups focused on crowdfunding.
O’Leary, 67, and Harrington, 64, are accused of tricking entrepreneurs into investing in a pair of crowdfunding-based companies called Ideazon and InventureX, according to legal documents reviewed by TMZ.
The 20 plaintiffs claim O’Leary and Harrington said they could appear on Shark Tank for their investments, but nothing was cleared.
The latest: Kevin O’Leary, 67, and Kevin Harrington, 64, of ABC Shark Tank have been named in a 20-person lawsuit accusing them of promoting a “predatory fraud scheme” involving companies. newly created focused on crowdfunding
Plaintiffs described the investment as a “diabolical and blatant scam to defraud what are believed to be hundreds, if not thousands, of innocent employers working their last dollar” in their lawsuit, Radar reported.
Ideazon and InventureX “turned out to be nothing more and nothing less than facades designed to attract carefree victims, extract their money and then virtually disappear under the guise of delays, minimal or no performance, and no results,” the plaintiffs in their legal complaint. according to the power outlet.
The lawsuit said investors were “attracted by the involvement, support and credibility” of television personalities and “bought the dream, paid their money, and then spent agonizing months, if not years, of frustration and anguish to try to launch their products and start businesses without results “.
Plaintiffs said that in legal documents, their effort to recover the money caused “agonizing frustration” as they were subjected to “more lies and deceptions … lost money, lost time and lost dreams”.
O’Leary (center) appears in Shark Tank with (LR) Mark Cuban, Barbara Corcoran, Lori Greiner, Daymond John
O’Leary, a native of Montreal, has been seen on the 2009-2021 ABC series
O’Leary appeared in a video to promote the investments, the plaintiffs said, as he is a “partner and chief executive” of InventureX and “supported the top executives of both companies in the scam.”
Montreal native O’Leary has been seen on the ABC series since 2009, while Cincinnati native Harrington was seen on the series in its first two seasons.
The business reality contest also features entrepreneurs such as Daymond John, Robert Herjavec, Mark Cuban, Barbara Corcoran and Lori Greiner.