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Jon Stewart Masterfully Tears Apart Trump's Financial Fraud Defense In Epic Takedown

In his opening 'Daily Show' monologue Monday night, Jon Stewart ripped apart the primary defense Trump and his apologists have made since he was found liable for massive financial fraud: that it was a 'victimless crime.'

Jon Stewart with a photo of Donald Trump inset
The Daily Show/YouTube

The Daily Show's Monday night regular Jon Stewart skewered Donald Trump apologists' "victimless crime" defense for the former Republican President's latest fraud.

In 2022 and 2023, a judge ruled the presumptive 2024 GOP presidential candidate defrauded banks and insurers through his Trump Organization and subsidiaries.

Trump previously faced fraud judgments for financial misconduct related to the registered charities the Trump Foundation and the Eric Trump Foundation as well as the business Trump University.

Shark Tank's Kevin O'Leary, Fox News host Sean Hannity, and Fox Business host Stuart Varney claimed there were no victims from Trump’s financial crimes.

Stewart disagreed, saying:

"...they are not victimless crimes.”
"Money isn’t infinite. 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."

Stewart first addressed Trump’s $454 million civil fraud judgment.

"What did Trump actually do to earn this penalty?"
"Well it turns out that for a decade, whenever Trump wanted to get a loan or make a deal, he would illegally inflate the value of his real estate..."
"...And the Attorney General of New York knew that Trump’s property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties."
"It was all part of a very specific real estate practice known as lying."


The Daily Show host played clips of Trump’s apologists, including O'Leary, minimizing Trump’s consistent manipulation of the valuation of Trump Organization holdings to underpay his taxes, then inflate his assets to qualify for loans or insurance payouts.

Stewart commented:

"I am surprised to hear this from Kevin O’Leary."
"I’m surprised to hear that he’s so chill about overvaluing something that he thinks is victimless because when someone tries to do that to him…"

Stewart then showed a montage of O'Leary ranting about overvalued businesses on Shark Tank.

He followed it up with a clip of O'Leary claiming Trump’s fraud is a routine practice in real estate.

Stewart said:

"Leave it to Kevin O’Leary to be unaware enough to say the quiet part out loud."

The Daily Show veteran host and producer added:

"The f*cking entitled arrogance! I don’t know if you know this, but most people just can’t commit fraud and expect to face no repercussions, even if everyone’s doing it."
"Try getting a car loan by saying you have ten times as much money as you really do, or claim 20 dependents when you have no children, or say you make slightly less money to qualify for food assistance."
"I will guarantee you there are not just financial consequences for those lies, but criminal ones."
"But don’t tell that to the investment community, because in their minds, in pursuit of profit, there is no rule that cannot be bent, there is no principle that cannot be undercut as long as you and your f*cking friends are making money."

Stewart then contrasted the same right-wing pundits' outrage about the potential of fraud in social safety nets—where poor people might get an extra few dollars in benefits to feed, house, or clothe themselves or their children.

You can see Stewart's full Monday night The Daily Show monologue here:

Jon Stewart Deconstructs Trump’s "Victimless" $450 Million Fraud | The Daily