Kevin O’Leary Slams New York For Trump Fraud Case

Canadian businessman and ABC’s “Shark Tank” co-star Kevin O’Leary said Monday he does not plan to invest in the “mega-loser state” of New York after a judge there recently ruled that former President Donald Trump owes $350 million in damages for financial fraud.

“I’m no different than any other investor. I’m shocked at this. I can’t even understand or fathom the decision at all. There’s no rationale for it,” O’Leary told Fox Business host Neil Cavuto. “And so, let me give you a real-time experience I’m having regarding this — and I’m not the only one … New York was already a mega-loser state, like California’s a loser state.”

“There are many loser states because of policy: high taxes, uncompetitive regulation. It was already on the top of the list of being a loser state. I would never invest in New York now,” O’Leary said. “And I’m not the only person saying that.”

“Do you think any foreign institution or any private equity firm or any pension fund would touch New York?” O’Leary continued. “No! And that’s why New Yorkers should be concerned. The fine people of New York should ask themselves why are we such a loser state? How are we gonna attract business? It’s not just the existing businesses that are fleeing out to Texas and Florida.”

The businessman and investor said there was “not a chance” he would put a billion-dollar project up in New York: “What about new money like I’m talking about? Like a $4 billion data center? Not a chance I would put that in New York! Zero probability! Never!”

While speaking with CNN host Laura Coates the same day, O’Leary said the way Trump did business in New York was not fraudulent: “What fraud? This is not about Trump anymore. 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.”

“That haggling has gone on for decades. That’s how it works,” O’Leary continued. “They’ve all done the same thing. All of them should go to jail and we should stop building buildings. That’s what the message is from New York.”