Shark Tank's Investment In Keto Weight Loss

Shark Tank is a popular TV show where affluent judges decide whether or not to invest in various entrepreneurial ventures pitched to them. In November 2019, several readers began inquiring about the existence of a keto pill that had allegedly been funded through the show. However, no keto-based product has ever been pitched or funded on Shark Tank.

There have been instances of products like PureFit KETO being marketed as if they had been successfully pitched on Shark Tank. These are scams, and the Better Business Bureau has investigated and debunked such claims.

It is important to be cautious of such scams and to verify the authenticity of any product claiming to have been endorsed by celebrities or featured on Shark Tank.

Shark Tank's involvement in keto weight loss products

Shark Tank is a popular TV show where affluent judges decide whether to invest their personal funds in various entrepreneurial ventures pitched to them on camera. Shark Tank has never endorsed a keto diet pill. However, scammers have used the show's name to falsely claim that the Sharks have invested in keto weight loss products.

In 2019, the Better Business Bureau investigated a company called PureFit KETO, which had marketed its product as if it had been successfully pitched on Shark Tank. The investigation found that the images on the company's website were taken from a separate Shark Tank episode that did not mention PureFit KETO. Despite this, Amazon and other retailers included the Shark Tank claim in their product listings.

Other keto weight loss products have also been falsely advertised as having been endorsed by Shark Tank. These include Royal Keto Gummies, which was the subject of ads brought to the attention of ABC 10News viewers.

It is important to fact-check such claims, as there are many scams in the keto supplement industry. If you want to know if a product has appeared on Shark Tank, ABC has a complete list on its website that is updated after every episode.

Shark Tank's response to the keto weight loss scam

Shark Tank is a popular TV show where affluent judges decide whether to invest in various entrepreneurial ventures pitched to them on camera. In November 2019, several viewers began inquiring about the existence of a "keto pill" that had allegedly been funded through the show. However, no keto-based product has ever been pitched or funded on Shark Tank.

In one notable instance, a product named "PureFit KETO" was marketed as if it had been successfully pitched on Shark Tank. The Better Business Bureau investigated the company and found that the images on its website were taken from a separate Shark Tank episode that did not mention PureFit KETO.

Claims of a "Shark Tank-approved keto pill" are just one iteration of a broader scam. Many people seek "passive income" from online marketing by selling supplements via dropshipping, a practice where the seller never actually has physical possession of the product. One such method is to lie about celebrity endorsements, as evidenced in claims that "PureFit Keto" had been funded on Shark Tank. Similar products have also been falsely advertised as being endorsed by celebrities like Chrissy Teigen, Demi Lovato, and Jameela Jamil.

Mark Cuban, one of the judges on Shark Tank, has called these scams a "mole" that is hard to whack. He has advised people to report such scams to the Federal Trade Commission (FTC).

How to identify a keto weight loss scam

Keto weight loss scams are common, and consumers risk losing money and jeopardizing their health by falling for them. Here are some ways to identify a keto weight loss scam:

• Check for endorsements: Be wary of products that claim to be endorsed by celebrities or entrepreneurs, as this is often a lie. For example, Chrissy Teigen, Lori Greiner, Oprah Winfrey, and Ellen DeGeneres are among those whose names and images have been used without their consent to promote keto products.
• Look for warning signs: The U.S. Food & Drug Administration (FDA) warns consumers to watch out for products that promise a "quick fix," use the words "guaranteed" or "scientific breakthrough," are marketed through mass emails or foreign language, or are presented as herbal alternatives to approved drugs.
• Research the product: If you're considering purchasing a keto supplement, do your research. Check for third-party testing and certification by organizations like the National Sanitation Foundation, ConsumerLab.com, and U.S. Pharmacopeia. Ask the company for research or evidence supporting their claims, and be cautious of products pushed through email or pop-up ads.
• Check the Shark Tank website: If a product claims to have been featured on the show, you can verify this by checking the official Shark Tank website, which lists all products that have appeared on the show.
• Consult a healthcare professional: Before taking any dietary supplement, speak to your healthcare provider to get their advice and ensure the product is safe for you.
• Be cautious of scams: If a deal seems too good to be true, it probably is. Be wary of "risk-free" trials, as these are often not free. Pay close attention to the fine print, and be cautious of giving out your payment information to unfamiliar websites.

What to do if you've been scammed

There have been claims that a keto pill or keto gummies have been funded through the popular TV show "Shark Tank". However, no keto-based product has ever been pitched or funded on the show. These claims are scams.

If you have been scammed by such advertisements, here is what you can do:

Recognise the Scam

Scammers often use telemarketing calls, text messages, social media platforms, fake news websites, blogs, and banner ads to lure consumers into purchasing seemingly miraculous weight loss products. They make false promises such as:

• Lose weight without dieting or exercising.
• You don't have to watch what you eat to lose weight.
• To lose weight, all you have to do is take a certain pill.
• You can lose 30 pounds in 30 days.
• You can lose weight with a particular patch or cream.

Report the Scam

If you believe you have been the victim of a weight loss scam or other financial fraud, file a report with the Federal Trade Commission (FTC) or call the FTC Consumer Response Center at 877-382-4357. You may also contact your local consumer protection agency, such as the DISB Enforcement and Consumer Protection Division.

Protect Yourself in the Future

• Check out the company: Research a weight loss company's reputation by searching databases from organisations like the Better Business Bureau (BBB).
• Check the product: The FDA keeps a database of approved drugs and warnings about weight loss products that contain hidden ingredients.
• Scrutinise offers carefully: Be wary of pre-checked boxes that authorise regular orders or additional products. Be cautious when buying online and avoid giving out personal health information.
• Consult a medical professional: A physician will do a comprehensive evaluation and can guide you toward evidence-based treatments.

How to avoid getting scammed

The internet is a wonderful resource but it can also be a place where unscrupulous people take advantage of unsuspecting consumers. Here are some tips to help you avoid getting scammed:

• Do your research. If it sounds too good to be true, it probably is. Do a quick Google search to see if the product or service is legitimate. Look for reviews from other customers and check the company's website for contact information and customer service details.
• Be wary of endorsements. Just because a product or service is endorsed by a celebrity or TV show doesn't mean it's a good investment. In fact, many scams use fake endorsements to lure people in.
• Read the fine print. Before you buy anything, make sure you understand the terms and conditions. Scammers often hide important information in the fine print, so take the time to read through everything carefully.
• Protect your personal information. Never give out your personal or financial information to someone you don't know or trust. Be especially cautious of websites that ask for your credit card information.
• Be cautious of "free" offers. If something seems too good to be true, it probably is. Scammers often use "free" offers to lure people in and then charge them hidden fees or sign them up for expensive subscription services.
• Trust your instincts. If something feels off about a product or service, don't hesitate to walk away. Trust your instincts and only do business with companies that feel trustworthy and legitimate.
• Report scams. If you think you've been scammed, don't be embarrassed to report it. Contact the Better Business Bureau, the Federal Trade Commission, or your local consumer protection agency. The more people who report scams, the easier it is to shut them down.
• Be cautious of "limited time offers." Scammers often use high-pressure sales tactics to get people to make impulsive purchases. Don't be afraid to walk away from a deal that seems too good to be true.
• Use secure payment methods. When making online purchases, use secure payment methods such as credit cards or PayPal. This will help protect you in case something goes wrong with the transaction.
• Be wary of fake websites. Scammers often create fake websites that look like legitimate companies. Check the website's URL carefully and look for spelling errors or other red flags.

Frequently asked questions