DRAGONS' CON

0 Comments | Sunday Mirror, Sep 17, 2006 | by NICK OWENS

HIT TV show Dragons' Den is today branded a sham - where most of the winners never receive a penny.

The super-rich Dragons pledge tens of thousands of pounds to struggling entrepreneurs to help their businesses.

But a Sunday Mirror investigation reveals how 13 of the 19 contestants promised cash on the BBC show have not received any. The total amount unpaid comes to almost pounds 1.3MILLION.

In the meantime many of their businesses have floundered.

Today furious contestants lift the lid on what really happens - or doesn't happen - when the cameras stop rolling. We can reveal how:

Charles Ejogo was promised pounds 150,000 towards his umbrella vending machine but said: "I never saw a penny - but I wasn't alone."

Furious Tracie Herrtage, who plunged into pounds 10,000 debt when her cash never arrived for her hammock bed idea, said: "It was a farcical rollercoaster."

Danny Bamping decided to pull out when he claimed the Dragons turned on each other over his puzzle idea. He said: "They couldn't stand each other."

And Gary Taylor, despite being the biggest ever winner, pulled out of his truck valet deal blasting: "The show's just an ego boost for the judges."

The revelations will shock viewers who have made Dragons' Den such a hit that it is now in its third series. The show - which sees millionaires grill entrepreneurs and then pledge cash for their projects - is watched by up to five million every Thursday night.

Dragons Scot-born Duncan Bannatyne, Theo Paphitis, Richard Farleigh, Peter Jones and Deborah Meaden have been catapulted to stardom as the big investors.

The winning contestants expect a meeting afterwards to discuss their deals in more detail and sign a contract... but their wealthy new backers often slip into their chauffeur-driven cars and drive off without a word.

The brash Dragons suddenly become very difficult to contact and cash promises are broken, according to winners.

Charles Ejogo, the first winner of series one in 2004, said: "The show gives the impression that winners get offered cash as soon as the programme ends. The reality is totally different." The 30-year- old from Fulham, London, wowed the judges with his mobile umbrella vending machine.

Dragons Peter and Duncan pledged to plough pounds 150,000 into the Umbrolly and Charles shook hands on a deal. But within three months, the deal was off. He said: "Duncan never rang but we exchanged emails. I had an agreement with London Underground to put the Umbrolly machines in stations. But because I only had a small amount of capital I decided to focus the first machines in the North of England where we would make more cash. Duncan didn't like it so he was out.

"There was an excuse made that perhaps I was not 100 per cent accurate in the information I gave but I have watched it back and I was. Then Peter pulled out too. I know from speaking to other contestants I was not the only one."

Last night the Dragons defended their record. Duncan Bannatyne said: "We don't hand over money to people who don't tell the truth."

Theo Paphitis added: "I kept up my end of the bargain. The show is not about a cash prize, it is about us pledging to invest. But people must tell the truth. Simple."

A BBC spokesman said: "After the initial agreement is made on camera, both parties enter a period of due diligence. Sometimes during this period the deals fall through."

JULIE WHITE

Party planner (pounds 75K)

IN Series 2, Julie impressed the Dragons with her baby party planning company Truly Madly, Baby. But she is still waiting to hear from Dragon Peter Jones a YEAR after he pledged pounds 75,000.

Mum Julie, 37, says she never saw Peter after the show.

She discussed the deal with "his people" but in January this year, six months after filming, she found a new investor. She emailed Peter to tell him the deal was off - but got no response

She said: "He didn't have time to meet me. I was disappointed."

Julie now has 80 consultants hosting parties across the UK and a lucrative online shopping business.

PETTY BROTHERS

iVCam (pounds 25K)

JUDGES Doug Richards and Peter Jones pledged pounds 25,000 for a 15 per cent share in Phillip and John's industrial measuring gadget iVCam.

But three months after filming, the Pettys couldn't contact their millionaire investors, despite calling the BBC for help.

John, 57, said:

"Eventually we had a few meetings with the Dragons but progress was slow and it just petered out. It would have been a different business if they were with us, we'd be selling the product faster."

The BBC said the Dragons were considering licensing the technology rather than manufacturing the product, so the deal fell through.

PAUL COCKLE

'Circus' (pounds 160K)

PAUL is still waiting to finalise his pounds 160,000 deal with Dragons Theo Paphitis and Peter Jones...18 months after being offered the money in the second series for his circus, The Generating Company.

The London entrepreneur, 47 - who agreed to give them a 40 per cent stake - warned future contestants: "It's not as easy as walking off with the cash. It's not just the dragons' fault - there are a series of legal complications including turning the company from a not-for-profit into a share ownership."