Shark Tank is a popular reality television show which allows entrepreneurs and start-ups to make deals with well-known investors. Some prominent investors appearing on the show are Mark Cuban, Kevin O'Leary, Barbara Corcoran, and Daymond John. 

Billionaire Mark Cuban Sounds Alarm On 'Shark Tank' Scams, Begs FTC To Crack Down On Imposters
Billionaire Mark Cuban Sounds Alarm On 'Shark Tank' Scams, Begs FTC To Crack Down On Imposters© Provided by Benzinga

Entrepreneurs present their product ideas to the panel during the show to attract investments. If the "sharks" on the show like any of their ideas, then they decide to invest in the business. 

But Cuban is warning that not all celebrity endorsements are legitimate, as scammers falsely use the Shark Tank badge to popularize their brands. 

Some fake sellers now claim that their products have been endorsed by "Shark Tank" judges, when they are not.

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Must Read: Billionaire Mark Cuban Sounds Alarm On 'Shark Tank' Scams, Begs FTC To Crack Down On Imposters

According to a report by the Street, some companies are lying about being connected with the show and having the support of the show's famous investors, in an attempt to defraud potential investors and consumers.

Cuban, who's the owner of the Dallas Mavericks, is raising the alarm about the scammers. The billionaire is asking the Federal Trade Commission to protect consumers from the imposters.

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In January, Cuban tweeted saying that the "Shark Tank" hosts are begging FTC to crack down on scams.