In response to Judge Arthur Engoron’s $355 million ruling against former President Donald Trump, “Shark Tank” mogul Kevin O’Leary announced a boycott of New York City, labeling the decision as “corrupt and baseless.” O’Leary criticized both Attorney General Letitia James and Judge Engoron for their roles in the case, expressing shock and asserting that there was no rationale for the ruling.
Speaking to Fox News, O’Leary extended his criticism to the state of New York, branding it a “loser state” alongside California due to unfavorable policies, high taxes, and uncompetitive regulation. He emphasized that he would not invest in New York and suggested that the ruling could impact future investments, particularly in high-end data centers, a booming asset class in real estate.
“This has nothing to do with Trump. Forget about Trump. This is not a Trump situation. This is a New York problem now,” O’Leary declared.
Judge Engoron’s ruling, issued on Friday, mandates that Trump must pay over $350 million and is barred from conducting any business in New York State for three years. The decision, considered a landmark ruling, not only poses a financial challenge for Trump but also marks a significant moment in his business career.
The New York Attorney General, Letitia James, accused Trump and his company of inflating asset values on financial statements to obtain benefits such as loans and tax deductions. Judge Engoron played a crucial role in the legal proceedings, ordering Trump to comply with subpoenas for documents and testimony related to the investigation.
Supporters of Trump have criticized the investigation and Engoron’s rulings as politically motivated. In response to the ruling, Trump denounced Judge Engoron as “corrupt” and criticized the state of New York, predicting its impending financial collapse.
“I also knew we have a corrupt judge. He’s not a respected man,” Trump stated. “It’s a state that’s going bust because everybody’s leaving, and it’s all headed up by Biden who’s destroying our country.”
The court found that Trump and his entities engaged in fraudulent activities by submitting false financial data to banks and insurers to secure loans and insurance at more favorable rates. Despite the defense’s denial of these allegations, the court imposed several remedies, including the continuation of an Independent Monitor’s appointment, the installation of an Independent Director of Compliance, and restrictions on the defendant’s ability to conduct business in New York for a few years.
