Shark Tank’s Kevin O’Leary gave one CNN host a reality check about Donald Trump

Feb 23, 2024

The New York civil fraud verdict against Donald Trump sent shockwaves throughout the political world.

But the media got the story completely wrong. 

And Shark Tank’s Kevin O’Leary gave one CNN host a reality check about Donald Trump.

Democrat New York Attorney General Letitia James targeted former President Donald Trump with a politically motivated civil fraud lawsuit that claimed he inflated the value of his assets to get better terms on loans from banks. 

No bank that Trump did business with said that the former President defrauded them in any way.

The only person claiming fraud was a Democrat Attorney General who ran for office on the promise she would get Trump. 

But that didn’t stop Democrat Manhattan Supreme Court Judge Arthur Engoron from issuing a $360 million fine against Trump and the Trump Organization.

The former President and three members of his family were also banned from doing business in New York for three years.

Shark Tank star Kevin O’Leary schools clueless CNN anchor about Trump’s civil fraud case

O’Leary Ventures Chairman Kevin O’Leary – one of the “Sharks” on ABC’s Shark Tank – got in a fiery back and forth with CNN anchor Laura Coates over the ruling in the civil fraud case against Trump.

O’Leary previously said that he would no longer do business in New York after the ruling and claimed that many of his fellow business moguls told him the same thing.

Coates laughably said people would be more likely to do business in New York after the ruling because it shows they’re protected from fraud.

“Wouldn’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.”

O’Leary explained that there had never been a case like this one in 75 years, and what Trump did is a common practice in the real estate industry that is never prosecuted.

Trump gave his opinion on what he thought his properties were worth to use as collateral for a loan, and the bank took that into consideration and came up with their own value.

The value of a piece of real estate is always subjective.

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

According to O’Leary, this type of haggling between developers and banks has gone on for decades.

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

A Democrat Judge hit Donald Trump with a bogus fine for simply running his business like every other real estate developer in New York City.

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