“Shark Tank” host Kevin O’Leary declared his reluctance to invest in New York following a judge’s ruling last week that ordered former President Donald Trump to pay $355 million for his involvement in altering his net worth to obtain tax and insurance benefits.
The verdict, which bars Trump from conducting business in New York for three years, concluded a lengthy civil fraud trial brought by New York Attorney General Letitia James against the former president, The Trump Organization, and its executives, as reported by the AP.
Expressing surprise at the ruling, O’Leary remarked, “This award, I mean, just leaving the whole Trump thing out of it and seeing what occurred here … and 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,” he stated on Fox Business.
“We’re very worried, every investor is worried because where is the victim? Who lost the money? This is some arbitrary decision a judge made,” O’Leary continued.
“This policy … what does this say about the bar? About the legal bar in New York? Aren’t they going to question this judge? What is this? $350 million and interest and there’s no victim?”
“I would never invest in New York now,” added the CNBC “Shark Tank” host. “And I’m not the only person saying that.” He highlighted New York’s already unfavorable standing as a “loser state” due to its high taxes.
