The California auto loan king behind Donald Trump’s $175m bond to stave collections while he appeals a $454m civil fraud judgment has said he was “happy to do it”. #Don#Hankey, chairman and majority shareholder of #Knight#Specialty#Insurance, told CNN that his underwriting of Trump’s loan was “what we do”.
“I’m happy to do it. We would have done it for anybody else,” the 80-year-old said. “It was an easy transaction. It was put together very quickly.”
The bond filing to the court came three days ahead of a deadline on Trump and his company imposed by a New York appeals court.
Hankey told the network that Knight Specialty Insurance Company used a combination of cash and investment-grade bonds to pay the fee.
Hankey noted to CNN and other outlets that his company had initiated the deal,
reaching out to Trump before the appeals court reduced the amount the former president would have to pay while his appeal was heard.
The billionaire, who the network reported is worth more than $7.4bn, also confirmed to Forbes that he and his wife, as well as their two sons, supported Trump’s past political campaigns and would do so again.
“I’d never met Donald Trump,” he told Forbes. “I’d never talked to him on the phone. I heard that he needed a loan or a bond, and this is what we do. So, we reached out, and he responded.”
The $175m bond holds the New York attorney general, Letitia James, at bay while Trump takes the judgment to appeal. James said as the initial deadline approached last month that she was ready to start seizing properties https://www.theguardian.com/us-news/2024/apr/02/donald-trump-bond-paid-don-hankey?CMP=Share_iOSApp_Other
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