Kevin O’Leary to Coates on Trump’s Fraud Trial: ‘Excuse Me, What Fraud?’

COATES Because there are ░░░░░░░░ a lot who are ░░░░░░░░ to themselves I ve ░░░░░░░░ falsified my business records ░░░░░░░░ know what a square ░░░░░░░░ looks like I know ░░░░░░░░ I can ask for ░░░░░░░░ what I have the ░░░░░░░░ to support So I ░░░░░░░░ to what extent that ░░░░░░░░ is true But on ░░░░░░░░ second point wouldn t ░░░░░░░░ be many companies who ░░░░░░░░ not want to do ░░░░░░░░ or loan money to ░░░░░░░░ like yourself for investors ░░░░░░░░ they know that they ░░░░░░░░ get away with fraud ░░░░░░░░ there s no recourse ░░░░░░░░ protect them O LEARY ░░░░░░░░ me what fraud This ░░░░░░░░ not about Trump anymore ░░░░░░░░ you get a developer ░░░░░░░░ you get a developer ░░░░░░░░ builds a building and ░░░░░░░░ says it s worth ░░░░░░░░ million and he wants ░░░░░░░░ borrow 200 million from ░░░░░░░░ bank which happens every ░░░░░░░░ everywhere on earth including ░░░░░░░░ American city every developers ░░░░░░░░ entrepreneur they shine the ░░░░░░░░ on their building and ░░░░░░░░ say it s worth ░░░░░░░░ The bank does its ░░░░░░░░ due diligence as was ░░░░░░░░ in this case because ░░░░░░░░ re very good at ░░░░░░░░ at the banks are ░░░░░░░░ good and they say ░░░░░░░░ it s worth 300 ░░░░░░░░ re only going to ░░░░░░░░ you 150 million That ░░░░░░░░ has gone on for ░░░░░░░░ That s how it ░░░░░░░░ And then in this ░░░░░░░░ even the bank that ░░░░░░░░ supposedly defrauded testified and ░░░░░░░░ We didn t lose ░░░░░░░░ We want to do ░░░░░░░░ with this guy again ░░░░░░░░ d like to But ░░░░░░░░ judge said No no ░░░░░░░░ no no no Let ░░░░░░░░ penalize this developer for ░░░░░░░░ million And if we ░░░░░░░░ going to do that ░░░░░░░░ s penalize all the ░░░░░░░░ all across America They ░░░░░░░░ all done the same ░░░░░░░░ All of them should ░░░░░░░░ to jail and we ░░░░░░░░ stop building buildings That ░░░░░░░░ what the message is ░░░░░░░░ New York Even the ░░░░░░░░ herself is concerned about ░░░░░░░░ this looks like to ░░░░░░░░ all around the world ░░░░░░░░ s not just U ░░░░░░░░ domestic All around the ░░░░░░░░ people are talking about ░░░░░░░░ happened here You really ░░░░░░░░ people want to invest ░░░░░░░░ in New York after ░░░░░░░░ How about we go ░░░░░░░░ else COATES Well I ░░░░░░░░ there are people I ░░░░░░░░ t want to cut ░░░░░░░░ off but I want ░░░░░░░░ converse with you instead ░░░░░░░░ LEARY You just did ░░░░░░░░ It s only because ░░░░░░░░ want to have a ░░░░░░░░ Kevin as opposed to ░░░░░░░░ just tell me O ░░░░░░░░ You know what I ░░░░░░░░ you because you re ░░░░░░░░ lawyer You re a ░░░░░░░░ You understand exactly what ░░░░░░░░ m talking about COATES ░░░░░░░░ gotta tell you I ░░░░░░░░ respectable for a number ░░░░░░░░ reasons Kevin O Leary ░░░░░░░░ being a lawyer is ░░░░░░░░ of those issues But ░░░░░░░░ ll tell you when ░░░░░░░░ hear your conversation I ░░░░░░░░ want to converse with ░░░░░░░░ about this point I ░░░░░░░░ that there are legitimate ░░░░░░░░ that were raised during ░░░░░░░░ trial and will continue ░░░░░░░░ be raised about who ░░░░░░░░ quote unquote who is ░░░░░░░░ bringing the suit It ░░░░░░░░ t the banks who ░░░░░░░░ saying that We as ░░░░░░░░ are unsophisticated feel this ░░░░░░░░ but Letitia James the ░░░░░░░░ general and I know ░░░░░░░░ want expand beyond Trump ░░░░░░░░ suggested Well it s ░░░░░░░░ making the playing field ░░░░░░░░ for those who are ░░░░░░░░ the major and billionaire ░░░░░░░░ but for those who ░░░░░░░░ supposed to put business ░░░░░░░░ out there want to ░░░░░░░░ a loan The idea ░░░░░░░░ making sure that they ░░░░░░░░ to have the same ░░░░░░░░ statements included as those ░░░░░░░░ have a lot more ░░░░░░░░ Is there any weight ░░░░░░░░ that for you O ░░░░░░░░ Well I asked you ░░░░░░░░ lost money And I ░░░░░░░░ make it even clearer ░░░░░░░░ and I we re ░░░░░░░░ a data center together ░░░░░░░░ I say to you ░░░░░░░░ can go to New ░░░░░░░░ where this just happened ░░░░░░░░ s your money now ░░░░░░░░ re now an investor ░░░░░░░░ you re taking risks ░░░░░░░░ are an entrepreneur with ░░░░░░░░ right beside me we ░░░░░░░░ together on the deal ░░░░░░░░ I can show you ░░░░░░░░ North Dakota West Virginia ░░░░░░░░ the governor s actually ░░░░░░░░ businesses Let s go ░░░░░░░░ where this never happened ░░░░░░░░ They have power they ░░░░░░░░ permits they ve got ░░░░░░░░ that s supportive of ░░░░░░░░ Why would we go ░░░░░░░░ New York Why take ░░░░░░░░ risk My only point ░░░░░░░░ did we just diminish ░░░░░░░░ great state of New ░░░░░░░░ and the great people ░░░░░░░░ New York And shouldn ░░░░░░░░ they ask for better ░░░░░░░░ so they don t ░░░░░░░░ a flyover state Remember ░░░░░░░░ York has the highest ░░░░░░░░ in the country the ░░░░░░░░ regulatory environment and it ░░░░░░░░ incredibly mismanaged And I ░░░░░░░░ pointing out now on ░░░░░░░░ of that you get ░░░░░░░░ insanity A victimless crime ░░░░░░░░ forget about Trump It ░░░░░░░░ not about Trump I ░░░░░░░░ t care about Trump ░░░░░░░░ this I care about ░░░░░░░░ and I care about ░░░░░░░░ and I care about ░░░░░░░░ and the fairness The ░░░░░░░░ system is now being ░░░░░░░░ People are asking themselves ░░░░░░░░ Bar of New York ░░░░░░░░ this judge rational to ░░░░░░░░ 355 million in a ░░░░░░░░ where no one lost ░░░░░░░░ money Is that good ░░░░░░░░ the people of New ░░░░░░░░ Shouldn t the people ░░░░░░░░ New York wake up ░░░░░░░░ this and say What ░░░░░░░░ happening to us Why ░░░░░░░░ this becoming so perverse ░░░░░░░░ are we the focus ░░░░░░░░ this injustice And I ░░░░░░░░ nothing to do with ░░░░░░░░ I m not supporting ░░░░░░░░ I m supporting American ░░░░░░░░ and New York is ░░░░░░░░ becoming the number one ░░░░░░░░ state in America I ░░░░░░░░ sorry that s what ░░░░░░░░ happening.”