Former ‘Shark Tank’ contestant admits to defrauding, inappropriately touching multiple women

Jul 3, 2023, 12:00 PM | Updated: 1:37 pm

Nathanael "Nate" Reid Holzapfel...

Nathanael "Nate" Reid Holzapfel appears on the "Shark Tank" TV show in 2013 to describe belts his company made. Holzapfel pleaded guilty on June 21 to three counts of communications fraud and three counts of sexual battery.

PROVO, Utah — An Orem entrepreneur who appeared on “Shark Tank” has admitted to fraud and sexual battery, responding to charges claiming he defrauded multiple women he was romantically involved with and inappropriately touching women.

Related: Shark Tank star charged with defrauding “vulnerable” woman

Nathanael “Nate” Reid Holzapfel, 44, pleaded guilty in 4th District Court on June 21 to three counts of communications fraud, a second-degree felony, and three counts of sexual battery, a class A misdemeanor.

In a statement supporting the plea — which addressed eight different cases filed against him — Holzapfel admitted to defrauding a woman he was dating between February and November 2020 and convincing two other women to invest in his businesses, but not passing any investment returns to them.

Holzapfel caused the woman he was dating to lose her home, which was built specifically to accommodate her disabled son, according to charging documents. He convinced her to transfer money in her home to Save My House LLC — a company he claimed would protect the equity in her home.

Charging documents for one case said that in September 2021, Holzapfel told a widow he met on Tinder, while he was married, that he would invest $50,000 from her late husband’s life insurance in his company Bristol and Beard, offering her a 10% return and $1 million after the company sold. The woman never received any money.

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Former ‘Shark Tank’ contestant admits to defrauding, inappropriately touching multiple women