'Shark Tank' star duped out of $400k in phishing scam

Lula Sharp
February 27, 2020

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The Corcoran Group founder Barbara Corcoran lost nearly $400,000 on Wednesday after falling victim to a phishing scam, a type of fraud in which personal information is obtained via realistic-seeming fake emails, Corcoran confirmed to Page Six in a statement Wednesday night.

Corcoran said the incident happened last week when her bookkeeper received an email about an invoice "approving the payment for a real estate renovation". However, this one wasn't legitimate.

After the accountant asked for more information about who was asking for the money, the fraudsters responded that the company, which, according to the Mail, is a real business, is working on housing in which Corcoran, a self-made mogul, has invested.

"The scammer disappeared and I'm told that it's a common practice, and I won't be getting the money back", Corcoran told People.

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Great cover story because we're told Barbara really does invest in real estate, and FFH is a real company in Germany.

People reports the bookkeeper continued to correspond with the scammer, who was able to pretend to be the "Shark Tank" star's assistant thanks to a clever deception involving the name of Corcoran's actual assistant. "The detail that no one caught was that my assistant's email address was misspelled by one letter, making it the fake email address set up by the scammers". That made sense, so she sent the wire transfer.

She is the founder of The Corcoran Group, a real estate brokerage in New York City.

Corcoran doesn't expect to get the money back because it had already been withdrawn.

In addition to her role on Shark Tank as an investor, Corcoran is known as a businesswoman, speaker and consultant. Her attorney's are now looking into the matter, but it appears that the money is gone.

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