(CNN) A former wine and liquor distributor was sentenced to 24 months in prison on Friday for using the show "Shark Tank" as part of a scheme to defraud investors, according to federal prosecutors with the Eastern District of New York. Joseph Falcone, 60, formerly operated the 3G's VINO LLC, a wine and liquor distributor based in Bethpage and Farmingdale, New York. Among other products, 3G's distributed a single-serving wine in a sealed glass, which had previously been featured on an episode of the reality pitch show "Shark Tank," according to a federal information. Between September 2014 and November 2015, Falcone solicited investments and promised potential investors that their money would be used to fund 3G's by purchasing the single-serving wine product, according to prosecutors. "Falcone's victims were reeled in by his 'Shark Tank' pitch, but with today's sentence, the defendant is now squarely on the hook for his crimes," said Seth D. DuCharme, acting US attorney for the Eastern District of New York.

Source: CNN October 11, 2020 17:15 UTC