Utah 'Shark Tank' Contestant Accused Of $200,000 Fraud

A shark Tank contest it from right here in Utah is being accused of praying on vulnerable women to receive money. Nathaniel Holzapfel is being accused of nearly $200,000 in fraud, reported ABC 4.

According to court documents, Holzapfel pressured a vulnerable woman into signing over her home to him. He then sold that home for nearly $200,000.

"It had a lot of different moving parts to it," said Sgt. Cole Christensen, who is investigating the case. "The alarm for me was the victim that we had in this first case was, she was particularly vulnerable, she had just lost her father, and was going through a grieving process there. She’s a breast cancer survivor, and she had a disabled son she totally cared for."

County Attorney David Leavitt said, "When you have an individual that prays upon the emotions of another for the express purpose allegedly of taking advantage of them financially, that’s a crime. We often think that these sorts of cases are civil cases and not criminal cases, but nothing couldn’t be further from the truth. Financial crimes are violent crimes. Anything that devastates someone’s life from which is difficult to recover that is a crime of violence."

Holzapfel now faces three counts of communications fraud, which is a second-degree felony.

Holzapfel was featured on Shark Tank pitching the Mission Belt, a belt with no holes. Shark Tank's Daymond John offered Holzapfel $50,000 for 37.5 percent of the company.

Check out his pitch below.

Investigators are warning residents to look for red flags. Any time a new person in your life is pressuring you into an unwanted financial situation, contact authorities immediately.