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Former Shark Tank contestant busted in cocaine ring

December 20, 2017  |  Posted by: Francesca Falzarano
Former Shark Tank contestant busted in cocaine ring

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A former “Shark Tank” contestant is facing charges after allegations surfaced that he was part of a cocaine-distribution ring in New Jersey.

John DePaola is among nine defendants that were taken into custody on Sunday.

The Monmouth County prosecutor announced Monday that the group sold cocaine in the Freehold area, THe New York Post reported.

DePaola has been charged with conspiring to possess cocaine. His attorney, Herbert Ellis, referred to the charge “baffling” and “without merit.” He added that his client is not a “druggie” or a drug dealer.

The 53-year-old appeared on an episode of “Shark Tank” back in 2014. His company, which sells paintbrush covers, attracted a $200,000 investment from Lori Greiner.

DePaola and his partners said in a follow-up segment that their product is being sold in 14,000 stores across the country, with $1.5 million in sales.

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