Kevin O'Leary warns NY Trump fraud case is 'concerning financial markets' around the world
The 'Shark Tank' star said it is 'tainting the American brand'
"Shark Tank" star Kevin O’Leary is blaming New York for "tainting the American brand" as former President Trump is at risk of losing properties following the ruling in his civil fraud case.
"What's going on in New York, it has nothing to do with Trump. That case is over. What's going on now is concerning financial markets all around the world," O’Leary told Fox News host Jesse Watters Thursday.
Trump has until Monday to secure the $464 million bond required by the court, or else face the possibility of the attorney general beginning to seize assets, an effort that O’Leary said "is not a good look on New York."
"I mean, seizing assets after 22 days, in a bankruptcy court you get years to resolve this," the O’Leary Ventures chair stressed.
Trump's lawyers said in a filing earlier this week that obtaining one is a "practical impossibility under the circumstances presented," claiming the Trump Organization has been turned down by roughly 30 surety companies.
"I don't care what color you are, red or blue or independent, doesn't matter. We are the bastion of safety when it comes to investing large pools of capital," he told the host.
New York Attorney General Letitia James sits in court during the civil fraud trial of former President Donald Trump at New York State Supreme Court on October 24, 2023 in New York City. (Photo by Mike Segar-Pool/Getty Images) (Mike Segar-Pool/Getty Images / Getty Images)
The T.V. personality went on to add that "we [U.S.] are the bastion of safety when it comes to investing large pools of capital. That's what America represents. We have property rights. We have an appellate system. We have law people trust, and we give you good returns with the least amount of resistance."
O’Leary voiced that he’s "very disturbed" by the legal turmoil unraveling in New York City, arguing that "it doesn’t matter that it’s Trump, it could be anybody."
He added that the same sentiment is resonating with investors during his appearance on "Fox & Friends" Friday morning.
Letitia James is trying to 'humiliate' Trump personally: Rich Lowry
'The Bottom Line' panelists David Asman and Rich Lowry discuss Hunter Biden's ex-business partner Tony Bobulinski testifying before Congress and former President Trump's struggles to secure $464 million bond in the New York civil fraud case.
"Most of us that are investors in financial services want the process to continue and get an appellate court involved here for a second set of eyes," O’Leary said.
"The way I view this and the way it's viewed internationally is this was like dress up court with kids running some kind of a Halloween party with no adult supervision. We need the adults now," he demanded.
"We need the adults to look at this."
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