TV show host Jon Stewart’s mocking of Donald Trump during an episode of The Daily Show last week backfired on him, as reports revealed that he was also guilty of overvaluing his properties.
Stewart went on an unhinged tirade against Trump on Monday as he discussed Trump’s $454 million appeal bond during his show. He also whined about how real estate billionaire Kevin O’Leary defended Trump by saying that the former president did not cause any direct harm to any individual or organization.
A segment of the show rolled a video of CNN’s Laura Coates asking Shark Tank star Kevin O’Leary for his remarks that Judge Arthur Engoron’s verdict “didn’t go over well” with the real estate industry.
Coates cited that Trump was found guilty of falsifying business statements, issuing false financial statements, insurance fraud, and conspiracy due to asset inflation.
“Everything that you just listed off is done by every real estate developer everywhere on Earth in every city. This has never been prosecuted,” O’Leary answered.
Stewart ended the clip and began his long rant, “How is he not this mad about overvaluations in the real world? Because they are not victimless crimes.”
“A loan that goes to the liar doesn’t go to someone who’s giving a more honest evaluation. So the system becomes incentivized for corruption,” he claimed.
However, the host, who was suffering from Trump Derangement Syndrome, turned out guilty of doing the same thing.
Stewart’s attacks against Trump backfired on him after he was exposed to the fact that in 2014 he sold his 6,280-square-foot New York City penthouse for 829 percent more than its actual value.
Financier Parag Pande bought the Tribeca duplex for $17.5 million; however, according to the actual assessor valuation, the unit was just $847,1147.
With a lower value, Stewart paid significantly lower property taxes, the same thing he accused Trump of doing.
Pande will then resell the penthouse in 2021 for $13 million, 26 percent lower than the price Stewart sold it to him.
Trump’s Mar-a-Lago estate, according to assessors, was worth just $18 million, but real estate brokers value the property 50 times higher. The same thing happened on Trump’s property in Westchester, which was worth $30 to $56 million based on assessments, but Trump valued it at $261 million.
New York Attorney General Letitia James, who swore “to get” Trump, took these valuations as an opportunity to prosecute Trump, accusing him and his associates of inflating his properties.
