Shark Tank star Kevin O'Leary took aim at New York Attorney General Letitia James on Tuesday, calling her lawsuit against Donald Trump an "attack on America."
While appearing on Fox News' Outnumbered, O'Leary spoke about the $454 million bond amount Trump is required to pay following a lawsuit brought by James. He said "it has absolutely nothing to do with Donald Trump at this point."
"This is an attack on America," O'Leary said. "And I don't know how you can look at it any other way."
The Context
Last month, Judge Arthur Engoron ruled in James' favor in her lawsuit against Trump, his adult sons, and The Trump Organization, alleging that the former president inflated the value of his properties, as well as the value of his net worth, to secure more favorable bank loans and taxation deals.
Trump was ordered to pay over $400 million in fines and he and his sons were barred from conducting business in New York for a period of two to three years.
However, on Monday, lawyers for Trump filed a document in court saying that they are unable to come up with the bond amount.
What We Know
"The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude," Trump's legal team wrote in its filing. "Despite scouring the market, we have been unsuccessful in our effort to obtain a bond for the Judgment Amount for Defendants for the simple reason that obtaining an appeal bond for $464 million is a practical impossibility under the circumstances presented."
The filing by Trump's legal team noted that it is a "practical impossibility" to come up with the bond amount.
Newsweek reached out to James' office via email for comment.
Views
This is not the first time O'Leary has criticized the ruling against Trump—he previously told Fox Business Network that he was "shocked" by it.
"I can't even understand or fathom the decision at all. There's no rationale for it," O'Leary said. "It doesn't matter what the governor says, New York was already a loser state, like California is a loser state. There are a lot of loser states because of policy, high taxes, uncompetitive regulation...I would never invest in New York now and I'm not the only person saying that."
In response to O'Leary's remarks, Trump said, "Kevin O'Leary is so great, and tells it like it is. Businesses will flee NYC & State after the Corrupt Judge's ruling!"
What's Next
Trump will have until March 25 to post the full bond amount unless the appeals court dismisses the judgment or lowers the amount.
If Trump is unable to post the bond by the deadline, James could begin seizing some of his assets and properties.
Update, 3/19/24, 2:07 p.m. EST: This story has been updated with further information.
Update, 3/19/24, 2:44 p.m. EST: This story has been updated with further information.
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Matthew Impelli is a Newsweek staff writer based in New York. His focus is reporting social issues and crime. In ... Read more
