Police Identify Third Fraud Victim Of Utah 'Shark Tank' Contestant
By Ginny Reese
January 13, 2022
A third woman who was the victim of fraud by a former "Shark Tank" contestant has been identified, reported 2 KUTV.
According to charging documents, Nate Holzapfel met a woman in September of 2020 and "began immediately grooming her in his scheme to defraud her of money." Holzapfel told the woman that she needed to invest in his company after misrepresenting the development and current operations of the company.
A probable cause statement explains that Holzapfel persuaded the victim to write him a check for $100,000 as an investment. Charging documents say that he spent the money on "multiple items that do not further" the company.
This wasn't the first time that Holzapfel has defrauded a victim. According to court documents, Holzapfel previously pressured a vulnerable woman into signing over her home to him. He then sold that home for nearly $200,000.
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.