What's one of the worst things you can due during this quarantine? Price-gouging protective equipment for officials is definitely at the top of the list. Unfortunately, that is exactly what Daymond John, star of "Shark Tank" and CEO of the Shark Group, apparently tried to do.
John is accused of attempting to sell 3M-made face masks to the states at $7 each, which is more than three times the market rate.Jared Moskowitz, director of Florida's Department of Emergency Management, says John played up his experience in the retail industry. “He came to me and said, ‘I’ve been in the clothing business'," Moskowitz notes, "He said, 'I have connections with factories in China'.”
Out of desperation, the statedidagree to purchasing one-million masks for $7-million. But the deal ultimately fell through mid-April. No one knows what happened, but 3M is now looking into the situation.
Source: Miami Herald