Get Your Fresh Intelligence Daily

SUBMIT

'Shark Tank' Stars Kevin O'Leary & Kevin Harrington Sued By 20 Alleged Victims Who Accuse Businessmen Of Running 'Diabolical' Scam That Screwed Them Out Of Millions

Sep. 1 2021, Published 8:22 p.m. ET

Link to FacebookShare to TwitterShare to Email

Shark Tank stars Kevin O'Leary and Kevin Harrington are being sued by 20 alleged victims who claim the businessmen screwed them out of millions by running a "diabolical and brazen scam."

Article continues below advertisement

In a lawsuit obtained by Radar, the popular entrepreneurs-turned-TV-personalities are being accused of fraud by two dozen business owners who say they were duped into false promises of success.

According to the documents, the Shark Tank judges organized a "diabolical and brazen scam to defraud what is believed to be hundreds, if not thousands, of innocent, hard-working entrepreneurs out of their last dollar."

Article continues below advertisement
shark tank kevin oleary kevin harrington pp
Source: Mega ; kevinharringtonofficial/youtube

Claiming O'Leary and Harrington gave "false promises of financial success," the lawsuit states they even used their successful reality TV show as leverage, allegedly giving the business owners "illusions of being on the show Shark Tank itself."

Article continues below advertisement

The lawsuit points out two companies — InventureX and Ideazon — who allegedly claimed to be in the crowdfunding business.

Article continues below advertisement

According to the documents, "these companies turned out to be nothing less than facades designed to lure in unsuspecting victims, extract their money and then virtually disappear under the guise of delays, minimal to no performance, and no results."

Calling this a "structured fraud scam from beginning to end," the plaintiffs claim they "were lured by the involvement, endorsement and credibility of Shark Tank stars Kevin Harrington and Kevin O’Leary."

Article continues below advertisement
shark tank kevin oleary gallery pic
Source: Mega

Kevin O'Leary

"Relying on these Shark Tank powerhouses, Plaintiffs bought into the dream, paid their money, and then went through agonizing months, if not years, of frustration and distress of trying to get their products launched and businesses started with no results. Ultimately, once the scam was revealed, these victims spent more agonizing frustration trying to get their money back to receive just more lies and deception," the documents read.

Article continues below advertisement

In the end, the plaintiffs say "their efforts resulted in nothing more than money lost, time wasted and dreams gone," adding that they "seek a reckoning."

Alleging that while InventureX and Ideazon look like "separate, unrelated companies" to the public, "once the curtain was pulled back, they were nearly identical."

Article continues below advertisement

"They used the same success stories, same percentage rates of success, same marketing/promotional ideas, same promises/representations, same agreements, same bank accounts and one entity pulling both their strings: Defendant Crowdfund, LLC," the lawsuit reads.

Article continues below advertisement

What's O'Leary and Harrington's alleged connection? "Harrington is a partner and primary executive of Defendant InventureX," the plaintiffs allege, claiming he even appeared in a personal video to each of them in an effort to "lure the Plaintiffs to sign up and/or continue paying fees."

As for O'Leary, they allege he "endorsed the primary executives of both companies in the scam."

Article continues below advertisement
kevin leary gallery pic
Source: ABC

Kevin O'Leary

Accusing the man known as "Mr. Wonderful" of endorsing "people who didn’t exist" and "fraudulent and illegitimate businesses," the lawsuit claims the Shark Tank duo are the faces of a "fraud scheme with victims across the world."

Article continues below advertisement

The alleged victims are suing for "fraud," "negligence," "breach of written contract," and "intentional infliction of emotional distress."

Radar obtained a statement from O'Leary via his lawyer following our story, in which the businessman denies any involvement.

“It appears that someone has been using my name and likeness without my knowledge, permission, or consent. I’ve never heard of any of these purported companies and have never conducted business with any of the plaintiffs who filed this suit. Obviously, I want to get to the bottom of it too, as my rights have been violated. We will makes sure that the bad actors are held accountable," he told Radar.

shark tank set pic abc
Source: ABC
Advertisement

© Copyright 2021 Radar Media Group LLC. Radar and RadarOnline are registered trademarks. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.