Daymond John, a star of reality show Shark Tank and founder of streetwear brand Fubu, has been called out by personal protective equipment manufacturer 3M for possible price gouging on 3M’s in-demand N95 masks.

Neither John nor anyone connected with The Shark Group, his branding/consulting firm, face any criminal or civil charges. The reality star vehemently denies any wrongdoing.

Daymond John

As reported by The Miami Herald, The New York Times and others, the issue centers on a deal that was reportedly in the works in March. The Shark Group was allegedly arranging to sell 3M N95 masks to the Florida Division of Emergency Management, which was desperate to get the masks to protect healthcare workers from COVID-19.

Reports indicate the deal was for The Shark Group to sell 1 million N95 masks to the FDEM for $7 million. The charge of $7 per mask was more than five times the $1.27 list price 3M gives for the particular masks.

3M noted that neither John nor his firm are authorized distributors of 3M products or channel partners. In a statement, 3M said its list prices are “are far lower than what appears to have been offered to the State of Florida.”

The company continued: “3M is filing lawsuits in cases where third parties use the company’s name, brand or trademark to engage in price gouging of N95 respirators and other illegal and unethical behavior. We have no knowledge of whether that occurred in this situation. We are happy, though, to assist law enforcement authorities if they wish to look into this matter.”

Ultimately, the deal never came to fruition.

John blasted media reports accusing him and his firm of wrongdoing.

In a statement, he said: “Proper reporting would have shown I did not set any prices and that my team worked with the State of Florida to: 1. Save lives 2. Help vet the overwhelming amount of incoming PPE offerings based on my manufacturing expertise and guide them how to best do this 3. Play a pivotal role to stop pricing gouging, and successfully identify potential fraud and theft of PPE product to protect taxpayers funds.”

John added that The Shark Group “was serving as an intermediary to vet the numerous 3M distributors and to protect Florida taxpayers, while establishing escrow protections that allowed the State to conduct proper due diligence before finalizing its purchase of masks.”