The recent $355 million business fraud judgment against former President Donald Trump has been met with criticism yet again from “Shark Tank” investor Kevin O'Leary, who has labeled the verdict as the work of a “rogue judge”.
What Happened: O’Leary has expressed concerns about the potential impact of the judgment on New York’s business investments and the reputation of the United States as a prime investment destination. He anticipates the verdict to be overturned on appeal, reported The Hill.
“In my view, that's a rogue settlement and should be repealed, and it will be through the appellate courts,” said O’Leary in an appearance on “The Hill” on News Nation, according to the report.
The case, initiated by New York District Attorney Letitia James, found Trump guilty of altering his net worth and property values to secure more favorable borrowing terms. James has stated her intention to seize Trump’s assets if he fails to pay the judgment. O’Leary warned that such actions are common in countries where investors are hesitant to put their money.
See Also: Trump Not Sure If He Can Work With Mitch McConnell: ‘He’ll Probably End Up Endorsing Me’
As part of the verdict, Trump has been banned from operating businesses in New York for three years. O’Leary, a vocal critic of the verdict, has stated that he would avoid investing in New York due to the precedent this case sets.
Why It Matters: Following the verdict, Trump praised the Shark Tank investor for his decision to pull out of New York, O’Leary has previously referred to Trump’s fine as a penalty for a ‘victimless crime’.
James has indicated readiness to seize Trump's assets if he fails to pay the fine. The fine includes approximately $100 million in pre-judgment interest and Trump faces an additional $2.6 million monthly if he doesn't clear this fine.
Photo via Shutterstock.
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