On Friday, “Shark Tank” host and investor Kevin O’Leary slammed New York Attorney General Letitia James for her office’s possible seizure of former President Donald Trump’s assets in his civil fraud lawsuit.
O’Leary’s main concern is that the decision will weaken investors’ trust in the US economy, he told Fox News anchor Laura Ingraham during an appearance on “The Ingraham Angle.”
That trust is “the essence of what makes the American brand the No. 1 economy on Earth,” O’Leary stated.
In February, Judge Arthur Engoron ruled Trump liable for $454 million in penalties, plus interest, for colluding to inflate the value of his New York assets. He must begin paying the bail by Monday, and James has previously stated that if Trump fails to pay, she may confiscate his assets.
“The collateral damage to the American brand is horrific,” O’Leary informed Ingraham.
According to him, the possibility of Trump losing his New York properties will cause problems for O’Leary as he travels the world next week to raise funds for a $3 billion data center.
“The No. 1 question I have when I go to these countries to try and raise this capital is: ‘What the hell is going on in New York’?'” O’Leary stated. “I tell them, ‘This isn’t America.'” It’s merely an anomaly. “I swear to you, everyone, this is not America.”
The investor disapproved of Trump’s allotted time to post his bond and denounced any additional asset seizures as an attempt to “steal.”
“Property rights appear 37 times in the Constitution. Due process is very crucial. “Why steal someone’s assets in 27 days?” O’Leary stated. “Why not allow them additional time to come up with the money? Forget about Donald Trump. “Who wants this to happen to them?”
The billionaire, who goes by the name “Mr. Wonderful,” also stated that he is now hesitant to invest more in New York.
O’Leary is a Canadian citizen who often supports right-wing political ideas in public. In 2017, he ran for the leadership of the Conservative Party of Canada against Prime Minister Justin Trudeau. O’Leary has stated that he also holds citizenship in Ireland and the United Arab Emirates.
However, the investor stated on Friday that his criticism of James’ decision had “nothing to do with Donald Trump.” When Ingraham repeatedly accused James of targeting Trump with a half-billion-dollar bond, O’Leary did not either agree or disagree with her statements.
“I don’t know who she is,” O’Leary admitted of James. “But all I could say was, Who’s next?”
Writing on X, formerly known as Twitter, the businessman described James’ approach to seeking Trump’s bond as an “assault on the #american brand!”
Trump claimed in a Truth Social post on Friday that he had the funds to pay the New York bail, despite previous statements from his lawyers that he would be unable to do so in time.
“THROUGH HARD WORK, TALENT, AND LUCK, I CURRENTLY HAVE ALMOST FIVE HUNDRED MILLION DOLLARS IN CASH, A SUBSTANTIAL AMOUNT OF WHICH I INTENDED TO USE IN MY CAMPAIGN FOR PRESIDENT,” he stated in his resignation letter.
Earlier this month, the former president paid a $92 million bond to settle E. Jean Carroll’s defamation complaint against him.
Meanwhile, James’ office has filed judgments in Westchester County, where Trump owns a golf club and a private estate called Seven Springs, indicating that it may be attempting to confiscate the former president’s property.
Representatives for O’Leary, James’ office, and Trump’s campaign did not immediately respond to Business Insider’s requests for comment received after regular hours.
