Kevin O’Leary strongly condemned a New York court’s ruling that fined former President Donald Trump $355 million, calling the decision “unjust,” “appalling” and “un-American.”
The Manhattan Supreme Court’s ruling, delivered by Justice Arthur Engoron on Friday, not only imposed a significant financial penalty on Trump but also temporarily prohibited him from engaging in business activities within New York.
O’Leary, renowned for his role on “Shark Tank,” condemned the judgment for potentially setting a precarious precedent for the real estate sector, reported the New York Post.
“It’s appalling. It’s unjust. I would go as far to say it’s un-American,” he said.
O’Leary has been vocal in his skepticism about the fraud case’s outcome, previously stating on CNN that he doubted the ruling would hold up under appeal.
According to the entrepreneur and businessman, the ruling’s implications are not only detrimental to Trump but also to the entire business community in New York.
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Speaking to The Post, he questioned the basis of the judgment, especially considering the common practice among developers to seek the highest possible valuation for their properties.
“That fact that he was found guilty, you might as well find guilty every real estate developer on Earth,” he said.
O’Leary predicted that the decision would likely be overturned on appeal, emphasizing the negative consequences it could have on American business practices.
He also criticized the broader implications of the ruling, suggesting it could lead to an exodus of businesses from New York, which he referred to as “a loser state” in light of the decision.
The ruling also affected Trump’s two eldest sons, imposing a two-year ban on their business activities in New York and fining them $4 million each.
Trump has denounced the judgment as an “election interference witch hunt,” framing it as a politically motivated attack on him during the election cycle.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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