“Shark Tank” investor Kevin O'Leary, when asked about last week's New York court's $355 million judgment against former President Trump, criticized the state of New York, which he called a “loser.” He vowed not to invest in the state again.
Last Friday, when Judge Arthur Engoron ordered him to pay more than $355 million for conspiring to alter his net worth to receive tax and insurance benefits, Trump, his company and the former president The management team, including his sons, was hit hard. The order also prevents President Trump from attending business in New York for three years.
“This award means, I ignored the whole Trump thing and looked at what happened here…and I'm no different than any other investor. I'm shocked by this. ” O’Leary said in an interview Monday. fox business. “I can't understand or understand that decision at all. There's no basis for it.”
The award is part of a lawsuit brought by New York Attorney General Letitia James (D) against the former president, the Trump Organization and its executives based on more than a decade of misconduct. The civil fraud trial, which lasted for several years, has concluded.
Mr. O'Leary, chairman of O'Leary Ventures, argued that New York is “already a losing state,” citing policy, high taxes and uncompetitive regulations as the main reasons.
“It was already at the top of the list of loser states. I would never invest in New York now,” O'Leary said. “And I'm not the only one saying that.”
O'Leary argued that existing businesses and new businesses will expand to different states such as Texas and Florida.
“So they have a lot of work to do to get out of this situation. This all happened after the pandemic…winner nation versus loser nation,” he said.
Fox Business anchor Neil Kabuto then asked about New York Governor Kathy Hochul's (Democratic) attempt to assure New York business owners that residents “have nothing to worry about.” I asked Mr. O'Leary if he thought so.
“We are very worried and all investors are worried too. Where are the victims? Who lost their money? This is an arbitrary decision made by a judge. ” replied Mr. O’Leary. “What does this policy… say about this bar? About the New York bar? Aren't they going to question this judge? What is this?”
“I'm sorry that her words fell on deaf ears,” he added. “There's nothing she can say to justify this decision. And this has nothing to do with Trump, nothing to do with Trump. Forget about Trump, this is This is a New York problem, not a Trump situation.”
The Hill has reached out to Hochul's office for comment.
President Trump praised O'Leary's comments on his social media platform Truth Social, saying, “Kevin O'Leary is such a great man and he tells it like it is.'' Corrupt judge's ruling leads to companies being forced to take action against New York City and state. He will run away from you!”
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