Shark Tank contestant charged with defrauding breast cancer survivor

Shark Tank contestant and Utah businessman Nate Holzapfel, 42, has been charged with communications fraud for allegedly swindling his cancer survivor girlfriend out of nearly $200,000

Shark Tank contestant and Utah businessman Nate Holzapfel, 42, has been charged with communications fraud for allegedly swindling his cancer survivor girlfriend out of nearly $200,000

A married Shark Tank contestant from has been charged with defrauding a ‘vulnerable’ breast cancer survivor he had met on a dating site out of nearly $200,000, leading the woman to lose her home that was designed to accommodate her disabled son. 

Nathanael ‘Nate’ Holzapfel, 42, an entrepreneur and business consultant from Provo, was arrested on Monday on communications fraud charges. Investigators believe there could be additional victims out there, and they are asking them to come forward. 

Sgt. Cole Christensen, with the Utah County Attorney’s Bureau of Investigations, said his office has been contacted by several women from across the state who may have fallen prey to Holzapfel’s alleged scheme. 

Holzapfel gained national attention when he appeared in May 2013 on ABC’s reality competition Shark Tank and successfully pitched the Mission Belt – an adjustable leather belt with no holes popular among Church of Jesus Christ of Latter Day Saints missionaries – to fashion mogul Daymond John.

Christensen alleged that Holzapfel, who is married, would go on dating apps and look for vulnerable women that could be exploited.

Holzapfel appeared on ABC's Shark Tank in May 2013 and successfully pitched the Mission Belt to fashion mogul Daymond John

Holzapfel appeared on ABC’s Shark Tank in May 2013 and successfully pitched the Mission Belt to fashion mogul Daymond John

Holzapfel is seen on the show, seeking $50,000 for a 20 per cent stake in his brother's company that makes adjustable leather belts without holes

Holzapfel is seen on the show, seeking $50,000 for a 20 per cent stake in his brother’s company that makes adjustable leather belts without holes 

‘He’s looking for a particular type of female,’ Christensen said of Holzapfel. 

According to court records obtained by s, in February 2020, Holzapfel began dating a divorced breast cancer survivor, who has been caring for her wheelchair-bound adult son, and who had recently lost her father.

At the start of their relationship, Holzapfel began asking questions about his new girlfriend’s financial situation, and learned that she owned a house worth about $200,000.

‘[Holzapfel] started telling [the woman] that she needed to do something to protect the equity in her home,’ the charging papers state. ‘[He told her that he] had a company called Save My House, LLC, that could protect the equity in her home and save her from paying high capital gains taxes if she needed to sell the home.’

A month later, Holzapfel allegedly took the woman ‘as a surprise’ to a title company, and then allegedly pressured her into signing a deed that transferred the ownership of her house to his company.

According to the victim, she initially refused to sign the document but she was confused and ultimately agreed to sign the deed transfer.

A witnesses at the title office would later tell investigators that it was ‘obvious’ the woman was reluctant to sign but eventually relented.

What Holzapfel’s girlfriend did not know, according to the charging documents, is that the 42-year-old entrepreneur was having financial problems stemming from a lawsuit filed against him in 2018 by legendary talk show host Larry King, and that he had a default judgment entered against him for over $250,000.

King, who died earlier this year, sued Holzapfel for misusing footage from a mock interview he had done with the businessman. 

After the signing the deed transfer, the woman came to Holzapfel and told him she had changed her mind, but the businessman allegedly began pressuring her to sell her home and invest part of the proceeds from the sale in one of his other ventures.

The victim ‘reluctantly’ sold the home, which had been specifically constructed for her disabled son.

According to the charging documents, Holzapfel sold the woman’s home in August 2020 for nearly $208,000, and pocketed more than $159,000, which he then used to pay for his personal expenses. He allegedly spent a portion of the fund to Buy Anderson AR 15 Stripped Lower Receiver in USA guns.

Holzapfel, who is married, is accused of pressuring a woman he met on a dating app to transfer the deed to her house to one of his companies, then selling it and pocketing most of proceeds

Holzapfel has been released on bond

Holzapfel, who is married, is accused of pressuring a woman he met on a dating app to transfer the deed to her house to one of his companies, then selling it and pocketing most of proceeds

Investigators believe the woman only received about $11,000 from the sale of her home.

Court records also note that over the course of their dating relationship, Holzapfel ‘omitted to tell [the woman] that he was still married.’

When the woman threatened to go to the police, Holzapfel stopped communicating with her and disappeared, according to the documents.

Holzapfel was charged with fraud in August and was arrested on a warrant on Monday. 

He was released from the Utah County Jail less than two hours later after posting $20,000 bond. He is scheduled to make his initial court appearance on November 3. 

Mission Belt, which was co-founded by Holzapfel’s brother in 2012, has released a statement, distancing itself from the former pitchman.

‘Nate Holzapfel has not been associated with Mission Belt for more than seven years and has no dealings with any of its employees, managers or customers,’ the statement read. ‘Nate Holzapfel does not represent Mission Belt in any capacity.’ 

<div id="external-source-links" class="item"

data-track-module=”am-external-links^external-links”>

Read more:

DM.later(‘bundle’, function()

DM.has(‘external-source-links’, ‘externalLinkTracker’);

);

Leave a Reply

Powered by WordPress | Theme Designed by: axis Bank bca Bank bni Bank bri Bank btn Bank cimbniaga Bank citibank Bank danamon Bank Indonesia Bank mandiri Bank ocbc bank Panin Bank syaria hmandiri dana google gopay indihome kaskus kominfo linkaja.id maybank ovo telkom telkomsel WA