Shark Tank Kevin O'Leary
Source: Screenshot YouTube/Screenshot YouTube

“Shark Tank” stars Kevin O’Leary and Kevin Harrington are denying that they did anything wrong after they were hit with a fraud lawsuit by 20 hopeful entrepreneurs. The frustrated startup founders collectively lost about $400,000 in the alleged scam.

O’Leary And Harrington Hit With Lawsuit

Page Six reported that 20 people are suing the famous business investors, alleging that they were manipulated and defrauded through the alleged use of “fictional executives, false promises of financial success and even illusions of being on the show ‘Shark Tank’ itself.”

Those who filed the lawsuit also claimed that O’Leary and Harrington used a “predatory fraud scheme” to have their alleged victims hire either InventureX or Ideazon. They alleged that they were promised they’d receive help for crowdfunding once they hired either company. But, they never received assistance after paying the money. 

Lead Plaintiff Jennifer Moody, 29, told that her life savings of $6,000 plus other monetary gifts from her recent wedding were wiped out in a deal with InventureX. She said that she decided to work with the company after she saw videos of O’Leary and Harrington endorsing the companies.

‘I was devastated,’ Moody said. ‘I felt this was my one chance to get my company going, and I felt humiliated and a failure when no campaign happened.’

Find out more about this lawsuit in the video below.

Related: ‘Shark Tank’ Star Lost Almost $400k In Email Phishing Scam, Now She’s Warning Others

Kevin O’Leary Fires Back

O’Leary fired back by claiming that someone has stolen his identity, which has caused this confusion to occur. 

“It appears that someone has been using my name and likeness without my knowledge, permission or consent,” said O’Leary, 67. “I’ve never heard of any of these purported companies and have never conducted business with any of the plaintiffs who filed this suit.”

However, the alleged victims weren’t having it. One of their attorneys said that Kevin O’Leary’s identity couldn’t have been stolen because he has appeared in videos in which he talked about the companies in question, InventureX and Ideazon.

“The statements of Mr. O’Leary came directly from videos where he discusses both InventureX and Ideazon and specifically endorses principles of each company by name,” said attorney Tre Lovell. “The transcriptions of each video are in the complaint.”

Related: Christian Navy Seal Takes His Idea to the Tank and Stuns the Sharks!

Kevin Harrington Responds

As for Harrington, 64, he admitted that he was involved in a promotional video for InventureX but denied any involvement with the company beyond that.

“It has come to our attention that Kevin Harrington has been accused of various false allegations regarding a recent lawsuit,” said Harrington’s attorney. “Kevin has been a proponent of entrepreneurs globally. Kevin never had any business arrangement or contract with any of the Plaintiffs. This should be a dispute between the Plaintiffs and InventureX. Kevin simply did a video for this Company.”

The lawyer added that Harrington “never owned any piece” of InventureX, nor served in any sort of “executive role” within the company and will pursue legal action of his own.

“Kevin is disturbed by the accusations and has been taken advantage of as a businessman,” he continued. “Kevin intends to pursue each and every person accountable and will defend the allegations contained in this complaint vigorously.”

The wannabe entrepreneurs are suing O’Leary and Harrington in the hopes of having them pay for damages, economic loss, emotional distress and legal fees.

It remains to be seen how this case will play out for the Shark Tank stars. 

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