"A lot of deceptive ads" — Shark Tank mentors warn against fraudulent product claims

The mentors of Shark Tank, including Mark Cuban, have voiced their concerns about deceptive advertisements falsely claiming endorsements from the show. In a video released by ABC Press, Mark Cuban highlighted the issue, saying:

“A lot of deceptive ads are out there, and they are misleading people using our names and images.”

These scams often use fabricated connections to the show or its investors to promote products and services that were never featured on the show. As new episodes air, scammers take advantage of the show’s popularity to target unsuspecting consumers.

The team encourages viewers to verify product claims through the official list of products featured on the show, available at abc.com/sharktank.

These scams often involve products like weight-loss supplements and skincare items, misleading consumers by using the names and images of the show and its investors.

The Federal Trade Commission (FTC) has also issued warnings about such deceptive promotions, emphasizing that using someone's name or image without authorization to sell a product is a violation of the FTC Act.

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How deceptive ads make use of Shark Tank’s popularity

Deceptive advertisements often feature unauthorized images of the show's investors, creating a false sense of credibility. The FTC refers to these as "testi-phony-als," where scammers illegally use celebrity images to promote their products.

A common tactic involves promoting products like keto diet pills, falsely claiming they were endorsed on Shark Tank. Mark Cuban addressed this issue while talking to WCPO, on January 27, 2023, stating:

"They might even show a photoshopped shot of the product in the tank."

These deceptive ads often appear on social media platforms, mimicking legitimate news outlets to further mislead consumers. Some even fabricate entire articles with fake endorsements from the show's investors. Some ads even look like real FOX News or CNN stories, but no such report exists.

The FTC has taken action against such promotions, highlighting the illegal use of celebrity images to sell products. They mention that Facebook and Instagram are full of ads for keto diet pills that claim to be endorsed by the show, even though none have ever been on Shark Tank.

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Protecting yourself from Shark Tank scams

To safeguard against scams falsely claiming the show's endorsements, consumers should take proactive measures. First, verify if a product was featured on the show by consulting the official list at abc.com/sharktank. If a product's association with the show cannot be confirmed, it's likely a scam.

"There are videos on social media claiming to be shark tank companies when they have never even appeared on the show," Cuban explained.

Robert Herjavec, another mentor of the show, said:

"Before you buy, please go to ABC's official Shark Tank website to see a full list of all businesses that have been on our show."

Additionally, avoid clicking on unsolicited ads or emails, as they may lead to fraudulent websites. The FTC advises consumers to be cautious of promotions that use unauthorized celebrity images, noting that such practices are deceptive and illegal.

If you encounter a suspicious ad, report it to the appropriate authorities. The show's team and the FTC are actively working to combat these scams, but consumer vigilance is crucial. By staying informed and exercising caution, you can protect yourself from deceptive marketing practices.

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Fans can watch the new episodes of Shark Tank, airing every Friday at 8 pm ET on ABC.