Shark Tank Investor Explains Why NY’s Anti-Trump Ruling Should Send Business Owners Fleeing

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‘I’m Shocked at This’: Shark Tank Investor Explains Why NY’s Anti-Trump Ruling Should Send Business Owners Fleeing

Kevin O’Leary of ‘Shark Tank’ has proposed a boycott of New York City in response to Judge Arthur Engoron’s $355 million decision against former President Donald Trump. Shark Tank

O’Leary called the judgment “corrupt and baseless,” criticizing both AG Letitia James and Judge Engoron’s participation in the case.

“I’m shocked,” O’Leary told Fox News. “There’s no rationale for it. I can’t even understand or fathom the decision at all.”

He expanded his criticism of New York, labeling it a “loser state” alongside California owing to bad laws, high taxes, and uncompetitive regulations.

“[New York] was already on the top of the list of being a loser state. I would never invest in New York now, and I’m not the only person saying that.”

The reality TV personality and entrepreneur also discussed the ruling’s influence on future investments, notably in high-end data centers, which are a thriving asset class in the real estate industry.

“I would NEVER invest in New York now! And I’m not the only one saying that!” he said.

“This $4 billion data center I’m talking about – not a chance I would put that in New York! Zero probability! Never!” he added.

“Every investor is worried because where is the victim? Who lost money? What does this say about the legal bar in New York? Aren’t they going to question this judge?” he remarked.

“$355 million as a penalty plus interest at 9%, and there’s no victim?” O’Leary added.

He said that Governor Kathy Hochul’s “words fall on deaf ears to everybody. There’s nothing she can say to justify this decision.”

“This is a New York problem now,” he remarked.

New York Governor Kathy Hochul earlier gave a press conference attempting to reassure business owners that this was simply about targeting a former president.

Judge Engoron on Friday ordered that Trump to pay more than $350 million in civil penalties and was barred from conducting business in New York State for three years. The ruling on Friday not only threatens to deplete Trump’s accessible financial reserves, but it also represents a watershed moment in his commercial dealings.

Letitia James, the New York Attorney General, accused Trump and his corporation of misrepresenting asset values on financial statements to lenders, insurers, and tax authorities in order to get perks such as loans and tax deductions.

However, as O’Leary explained, if New York State were to bring a lawsuit against Donald Trump for the near-universal practice, it should sue nearly every major real estate developer in the state.

But it appears that New York’s corrupt politicians will only do that to a business owner whose politics are considered to be problematic to its craven ruling class.