Kevin O’Leary, a prominent figure from the show “Shark Tank,” refuted CNN anchor Laura Coates when she attempted to spread misinformation regarding President Donald Trump’s financial situation. O’Leary made an appearance on CNN on Monday following the surprising civil court ruling against Trump in New York.
Judge Arthur Engoron, known for his radical views, ordered Trump to pay $355 million in punitive damages. This ruling stemmed from a politically motivated civil case initiated by New York’s Attorney General Letitia James, a career Democrat. The lawsuit against Trump falsely claimed that he had inflated his assets and engaged in fraudulent activities.
Engoron ruled that Trump and his co-defendants were liable for “persistent and repeated fraud,” “falsifying business records,” “issuing false financial statements,” “conspiracy to falsify false financial statements,” “insurance fraud,” and “conspiracy to commit insurance fraud.”
O’Leary challenged Coates’ perspective when questioned about the potential impact on investors and developers in New York following the substantial financial penalties imposed on Trump.
“[W]ouldn’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.
Watch the full exchange below:
