The TV show Shark Tankhas spawned thousands of great new products over the years.
Unfortunately, scammers are taking advantage of that, and are claiming to be Shark Tank endorsed.
Social media ads have been using the name and image of Shark Tank for years.
Sometimes they are legit, sometimes not.
But one of the show's most famous investors -- billionaire Mark Cuban -- is sounding the alarm on Shark Tank scams.
"There are videos on social media claiming to be shark tank companies when they have never even appeared on the show," Cuban said.
In a video provided by ABC and Shark Tank, he says more and more companies are claiming they were on the show, and have support from the "sharks," when they do not.
"They might even show a photoshopped shot of the product in the tank," Cuban said.
He showed an image of a weight loss supplement that had been photoshopped onto the table in front of the hosts.
Cuban is now asking the FTC to crack down on fake endorsements, according to a new report in TheStreet.com.
And he is urging people to look at a list on the show's website of all the legitimate products they have invested in.
Diet pill warning
And from the "doesn't that stink" file, one of the biggest Shark Tank scams, according to the show's hosts: Keto diet pills.
They say Facebook and Instagram feeds are filled with ads for Keto diet pills supposedly endorsed by the show, when none have been featured on Shark Tank.
Some ads even appear to be legitimate FOX News or CNN stories, when there was no such report.
So next time you are scrolling through your feeds, be careful for product ads claiming the "sharks" are behind them.
That way you don't waste your money.
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