The aggressive position taken by far-left New York Attorney General Letitia James in enforcing the judgment obtained in the highly politicized Manhattan “fraud” case against President Donald Trump is attracting negative attention from mainstream financial commentators. The demand for a cash bond of $464 million to secure Trump’s appellate rights has drawn sharp criticism from Kevin O’Leary, the O’Leary Ventures chairman and star of “Shark Tank.”
On Tuesday, O’Leary expressed his concerns on Fox News’ “Outnumbered,” arguing that the situation transcends Trump himself and touches on broader American principles. “This isn’t just about Trump anymore,” O’Leary stated, emphasizing the negative signal this sends about American legal and business environments. He argued that the arbitrarily punitive approach to free enterprise is “an attack on America.”
Where are the adults in the room? 😳
Kevin O’Leary absolutely nails it 😲
Who thinks she’s really gonna get away with it? 🤷♂️
New York has truly become Gotham City and #Retribution will be in full play if this happens 😱 pic.twitter.com/CJ4PmLO7NP
— Todd With Trump (@THeinrich22) March 21, 2024
The investor stressed that the bond amount and the highly expedited asset seizure timeline set a dangerous precedent. “No insurance bond company has ever issued anything near this,” O’Leary observed. He added that the impact will deter investment in New York as a result of the leftist government’s blatant disregard for property rights and basic due process.
Trump has been unable so far to find an insurance company willing to post the massive bond. Defense attorney David Gelman described the bond amount as a “unicorn” and a condition imposed with the knowledge it is a “practical impossibility.”
Kevin O'Leary is right. This $500 million fine against Trump isn't about Trump.
It's about New York. It's about America. It's about *property rights*—the basis of all human rights.
You don't have to be a Trump supporter to see how dangerous this is.
"Forfeiture. Seizing of… pic.twitter.com/1J2G8FzqNd
— Jon Miltimore (@miltimore79) March 19, 2024
Meanwhile, New York Attorney General Letitia James stands firm, ready to seize Trump’s assets if the bond is not posted. This aggressive stance has sparked a fiery response from Trump, who took to the X platform, formerly known as Twitter, to express his frustrations, labeling the situation as “WITCH HUNT. ELECTION INTERFERENCE!”
O’Leary’s comments reflect a growing concern that this case could represent a shift in how business, legal disputes, and political battles are conducted in America. He calls for “adult supervision” in this scenario, lamenting the lack of mature, stabilizing forces in what he views as a “crazy narrative.”
The controversy surrounding the New York civil fraud judgment against Trump is more than a legal battle; it’s a litmus test for the stability and legal integrity of the American business environment. O’Leary’s criticism highlights concerns about due process and the impact of such legal actions on investment and economic confidence.
Furthermore, this case could set a precedent affecting high-profile figures like Trump and the broader business community. The size of the bond and the speed of the asset seizure process raise questions about the balance between accountability and overreach. O’Leary’s call for “adult supervision” underscores a desire for moderation and rationality in a climate increasingly characterized by extreme measures and political polarization.
