Shark Tank’s Kevin O’Leary Slams CNN Host’s Claims about Trump’s Finances: ‘What Fraud?!’

“Shark Tank” star Kevin O’Leary shot down CNN anchor Laura Coates after she tried to promote false claims about President Donald Trump’s finances.

O’Leary appeared on CNN Monday night after the shock civil “fraud” ruling against Trump in New York.

Radical New York Judge Arthur Engoron ruled that Trump must pay $355 million in punitive “damages.”

The ruling came in the politically motivated civil “fraud” case brought by New York’s career Democrat Attorney General Letitia James.

The get-Trump lawsuit falsely alleged that the 45th president inflated his assets and committed fraud.

Engoron ruled that Trump and his co-defendants were liable for “persistent and repeated fraud,” “falsifying business records,” “issuing false financial statements,” “conspiracy to falsify false financial statements,” “insurance fraud,” and “conspiracy to commit insurance fraud.”

When pressed on whether investors and developers would actually reconsider doing business in New York after the multi-million dollar damages against Trump, O’Leary disputed Coates’ framing of the issue.

“[W]ouldn’t there be many companies who would not want to do business or loan money to people like yourself or investors if they know that they can get away with fraud and there’s no recourse to protect them?” Coates asked O’Leary.

“Excuse me. What fraud?!” O’Leary asked.

“This is not about Trump anymore.”

“When you get a developer that builds a building and he says it’s worth $400 million, and he wants to borrow $200 million from a bank, which happens every day everywhere on Earth, including every American city, every developer is an entrepreneur,” he told Coates.

“They shine the light on their building and they say it’s worth 400.

“The bank does its own due diligence, as was done in this case, because they’re very good at it, the banks are very good, and they say, no, it’s worth 300.

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“We’re only going to loan you $150 million.”

“That haggling has gone on for decades,” O’Leary continued.

“That’s how it works.”

“You really think people want to invest money in New York after this?” he asked.

“How about we go somewhere else?”

“Well, I think there are people who would,” Coates said, disagreeing with O’Leary.

“I don’t want to cut you off, but I want to converse with you,” she started, before getting into a back-and-forth with the investor and TV star.

“I respect you because you’re a lawyer,” O’Leary told Coates.

“You’re a lawyer. You understand exactly what I’m talking about.”

“I got to tell you, I’m respectable for a number of reasons, Kevin O’Leary,” Coates said back.

“But being a lawyer is one of those issues.”

WATCH:

O’Leary is not alone in his view, however.

As Slay News reported, top business elites are now rethinking their investment strategies after Engoron hit Trump with a $355 million fine for simply doing business in the state.

The ruling has provoked fears among the business world that companies may come under attack by the state’s radicalized justice system over their political persuasions.

Also on Monday, private equity fund manager Grant Cardone, a hugely successful and prominent businessman with $4 billion in assets under management, announced he will “NOT waste time in New York.”

Cardone is the founder of 10X Studios, Cardone Ventures, and 10X Health System, and he’s the co-founder/investor in sixteen other businesses.

He is also the author of seven best-selling business books.

In a Monday post on X, Cardone said:

“Cardone Capital just started to research real estate investments in New York believing it was time to get into the market.

“After the overreach by the judge in the Trump case & penalties imposed of $355M I told them team do NOT waste time in New York.

“We will 2X our efforts in: Florida, Arizona, Texas, Tennessee.”

READ MORE – New York Moves to Begin Vaccinating Children Without Parental Consent

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By Frank Bergman

Frank Bergman is a political/economic journalist living on the east coast. Aside from news reporting, Bergman also conducts interviews with researchers and material experts and investigates influential individuals and organizations in the sociopolitical world.

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