Kevin O’Leary, a prominent figure on the television show “Shark Tank,” has expressed his opposition to the substantial $454 million bond that former President Donald Trump has been instructed to pay in his civil fraud case in New York. In an interview on Fox News’ “Outnumbered,” O’Leary characterized the penalty as “outrageous” and deemed it an assault on the United States.
Furthermore, he acknowledged the revelation made by Trump’s attorneys in court that the former president has been unable to secure the colossal bond. This development raises the possibility of New York Attorney General Letitia James taking action to seize some of Trump’s properties in New York City.
“This is the United States of America under siege,” O’Leary said.
“You heard Eric lay out a fire sale. Essentially, former president President Trump sell has assets at a reduced cost. If he wins on the appeal because it’s easy to ask how that’s fair that he’s engaged in this fire sale. Not only that, Wall Street Journal editorial board says insurers may also fear miss James’ legal retribution. That is highly problematic. Anyone who does business in New York ought to worry about how miss James could likely twist of the screws on them,” O’Leary said.
“Should be thinking about the policy being put in place here. The competitiveness of New York state versus other U.S. States, but more importantly, the message about the American brand. You think about America. The reason this is the number one economy on earth is that we have laws and due process. We have property rights,” he said.
The entrepreneur from “Shark Tank” and founder of O’Leary Ventures expressed concern over the uncommon practice of asset seizure on a bond, deeming it as “very troubling” for the American economy’s reputation.
“It attracts foreign capital from all around the world. Although that is being shaken to the core here. The concept of seizing assets in 30 days on a bond number that has never been issued. No bond company has issued anything near this. There was no chance it was going to happen. Only giving 30 days notice in time. That is a really bad a message. I think New Yorkers should think well past Trump, whether he is president or not or whether this attorney general is gone and 4 years or not is irrelevant. This is case setting against the American brand. The most stable country on earth anywhere to put capital work over a long period of time, particularly in real estate is the United States of America,” he added.
O’Leary continued, “This is an assault on what we believe to be core. I find it extraordinary. I think it is very troubling. It has absolutely nothing to do with Donald Trump at this point in my view. It is completely bipartisan. This is an attack on America. I don’t know how you can look at it any other way.”
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