You might not know it, but not all celebrity endorsements are legitimate. Scammers often use false claims or a well-known person’s image in advertising to create the illusion of association. This happens without the knowledge of the celebrity.
Some shady sellers now claim their products have been endorsed by “Shark Tank” judges when they are not. Read on for ways to avoid falling for this tricky ruse.
“Shark Tank” is one of the most popular shows around. There are dozens of variations globally, allowing entrepreneurs to pitch their products to a panel of celebrities or investors. If they are successful, it could mean a serious boost in their reputation.
But some scammers sidestep the TV production and pitching process. Instead, they trick people with the “Shark Tank” logo and celebrity images. Naturally, the goal is to make shoppers believe the product is endorsed by (or was featured on) “Shark Tank” to increase sales.
According to the FTC, it’s a common scam as many people don’t know if the product was actually featured on the show. “Scammers are using fake Shark Tank celebrity testimonials and endorsements – complete with doctored photos and videos – to generate buzz and profits,” the FTC explains.
Before you put that box of innovative socks or miracle window cleaner in your cart, how sure are you that the claims on the packaging are factual? While it is challenging to know all the products...
This story is the second in an ongoing series on the Cost of Fraud, as Open the Books tallies the hidden fees on American tax returns. Click here to read the first story on fraudulent autism billi...