'Shark Tank' Judge Barbara Corcoran 'Thrilled' After She Recovers Nearly $400,000 from Scammers

March 5, 2020

Some scammers learned the hard way that you can’t steal from a shark.

“Shark Tank” judge Barbara Corcoran was able to recover the nearly $400,000 that was stolen from her in an elaborate phishing scam.

Last week, Corcoran publicly revealed that her and her team fell prey to the scam as a warning to others.

She took to social media to share her eye-opening life lesson: “Lesson learned: Be careful when you wire money!”

The scammers tricked her bookkeeper into wiring over $388,700 after using a fake email that closely mimicked her assistant’s and claiming that she had signed off on the money for a “renovation.”

Corcoran said her team didn’t have any reason to question the value or the email’s validity since she often invests in properties.

While she initially accepted that she’d never get the money back, she said she’s “thrilled” by the outcome.

"I really thought it was a goner," the investor said in a statement reported by CNN.

Corcoran was extremely lucky because her team caught on quickly and asked the German bank used for the wire transfer to freeze the payment before it reached the scammers in China. Her team of attorneys then did their best to prove it was a case of fraud.

Phishing email scams have become incredibly advanced and typically attempt to steal usernames, passwords, and money by convincing you to share personal data.

Always make sure you’re sending money to the right person and check that the sender is authentic before clicking any links.

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