'What fraud?': Kevin O'Leary blasts CNN host on Trump civil trial

Shark Tank investor Kevin O’Leary has slammed a New York judge's decision demanding former President Donald Trump to pay $US355 million over a civil fraud case.

“What fraud? This is not about Trump anymore,” O’Leary told CNN host Laura Coates on Monday.

“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.”

O'Leary argued that banks should discern the legitimacy of financial claims instead of penalising developers for overestimations.

The Canadian investor and businessman also expressed concerns that the decision could discourage investors from taking risks in the state.

“If we’re going to do that, let’s penalise all the developers all across America. They’ve all done the same thing," he said.

“All of them should go to jail and we should stop building buildings. That’s what the message is from New York.”

He added that New York is slowly becoming the "number one loser state in America".

[yzsclcs]

We are living in the most stupid time in the history of humanity.

[charlesloomis]

Seller: “My house is worth $500, 000.”
Buyer: “It’s only worth $400, 000.”
Insurance: “It’s worth $200, 000.”
Property Tax: “It’s worth $1, 000, 000.”

[jackmann]

This marks a very dark and shameful day for the U.S. but mostly Zoo York as the animals are now in charge!

[raymondwalden]

It is a race to the bottom between New York and California.

[tpyydcy]

Not to worry, Governor Hochul of NY said we only do this to people we don't like.

[joanhawley]

O'Leary really is proving that he is Mr.Wonderful.He speaks from experience and with authority. He is very smart not to disclose his political affiliation.

[michaelminervini]

Everyone does the same when getting a loan for a house or a home equity loan; you tell the bank what you think its worth. The bank will try to undervalue it, should that be fraud too? Its not fraud, its a negotiation.

[serviusm]

2 parties agreed to terms, checks were done, and everyone benefited from the deal. The court verdict is disgusting state overreach that should scare everyone.

[bittylife]

I live in New York, and the second I’m able to retire I’m out of this place. The democratic agenda just makes me sick. Add in the absorbent amount of taxes and it’s easy to see why no one wants to live here. Except for the illegal emigrants, who I’m sure find NY just fine since everything is free.

[AG-uudo]

Businesses should leave NYC and Texas should send all of the illegal immigrants there.

[CharlesDelloRusso-scmc]

It's a bunch of horse dung, Mr. O'Leary is100 % right

[stewartread]

Riddle me this, how does someone get found guilty of fraud without a victim..??

[MW-gmcq]

I love when CNN has smart people on! Of course, a head of lettuce is smarter than anyone at CNN.

[mikemellon]

CNN didn’t want to air that response I can tell you that

[timjohnshort]

Exactly right! “Weaponized” was the correct word there. Another word you could use to describe this would be “Politicized”.

[douglasteachout]

It is not just businesses. Every New Yorker trying to sell a residence for above market value (or even an inflated price) should be tried and fined for fraud according to this ruling.

[godspeed]

Funny that the lawsuit only came about, after Trump ran for the presidency.

[Cryptocracy_Now]

This was pure political lawfare, and it is just gross. The New York governor went on television and told future and current investors and developers not to fear, and that essentially they won't go after them like this, Trump's case was unique . I'm sorry... WHAT?! This is bad bad, and it's going to end up costing New York billions of dollars. It also does catastrophic damage to the integrity of the judicial system.

[ThuanNguyen-kjww]

Much respect to you Mr O'Leary, you speak the truth.

[richspizzaparty]

That judge stooped lower than the Australian host's neckline.