Kevin O’Leary, one of the investors on the show “Shark Tank,” recently criticized the $454 million bond that was ordered for former President Donald Trump in his New York civil fraud case.
O’Leary called the penalty “outrageous” and “an attack on America.” During an interview on Fox News’ “Outnumbered,” he discussed the news that Trump’s attorneys revealed in court that he has been unable to secure the massive bond. This could lead to New York Attorney General Letitia James seizing some of Trump’s properties in New York City.
The “Shark Tank” star, who founded O’Leary Ventures, continued by saying that asset seizure on a bond was unusual and “very troubling” for the reputation of the American economy.
“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.
According to the shocking decision by Manhattan Supreme Court Justice Arthur Engoron last month, Trump has until March 25 to post the enormous sum.
AG James previously threatened to pursue Trump’s historic properties if he defaulted on payments.
James argued during the trial that Trump inflated his net worth by billions of dollars annually on financial statements to obtain better loan and insurance terms.