Billionaire Trump supporter owns firm that underwrote Trump’s $175M bond

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The corporate that underwrote Donald Trump’s $175 million attraction bond in New York state’s civil fraud swimsuit is understood for providing subprime auto loans — and owned by a billionaire supporter of the presumptive Republican presidential nominee.

Don Hankey — the California-based businessman who made his $1.6 billion fortune from lending cash to auto patrons with flawed credit score historical past, per Forbes — got here to Trump’s rescue on Monday three days earlier than a court-imposed deadline.

The multimillion-dollar bond puts a $454 million judgement on hold whereas Trump appeals a ruling from Decide Arthur Engoron saying he lied for years about his wealth to prop up his actual property empire — and barred the previous president, his two eldest sons Eric and Donald Trump Jr. and different high Trump Group execs from heading any firm within the Huge Apple for 2 and three years, variously.

Knight Specialty Insurance coverage Firm — identified for providing subprime auto loans — underwrote Donald Trump’s $175 million attraction bond in New York state’s civil fraud swimsuit on Monday, simply three days earlier than a court-imposed deadline. AFP through Getty Photos

Hankey — who advised Forbes that each money and investment-grade bonds have been used as collateral for Trumps appellate bond — is the chairman and chief govt Knight Specialty Insurance coverage Firm.

Hankey mentioned that his firm had reached out to Trump to provoke the deal, simply days earlier than an appeals courtroom slashed the quantity he must pay whereas his attraction was heard, in accordance with Forbes.

“That is what we do at Knight Insurance coverage,” Hankey mentioned, and confirmed he had supported Trump’s political campaigns up to now, Forbes reported.

“I’d by no means met Donald Trump. I’d by no means talked to him on the telephone. I heard that he wanted a mortgage or a bond, and that is what we do. So, we reached out, and he responded.”

Hankey mentioned the deal got here collectively inside just a few days, in accordance with Forbes.

It wasn’t the primary time Hankey was tied up in a enterprise take care of the forty fifth President of america with out assembly the 77-year-old businessman turned politician. In 2022, Hankey was the most important particular person proprietor of Axos Monetary when that lender equally bailed Trump out of bother by refinancing his mortgages at Trump Tower in Miami, in accordance with Forbes.


Don Hankey, a California-based billionaire and owner of Knight Insurance, wearing a blue shirt and tie, known for underwriting Trump's $175M bond
Knight Insurance coverage is owned by California-based billionaire Don Hankey, who has beforehand supported supported Trump’s political campaigns. Hankey Group

Axos had additionally made at the very least two loans backed by at the very least two properties owned by Trump’s son-in-law, Jared Kushner, when he served because the CEO.

Hankey’s newest try at serving to Trump out has saved his property, together with his prized NYC property at 40 Wall Avenue, from New York Lawyer Common Letitia James’s try at seizing Trump’s property — which she vowed to do without hesitation if he couldn’t cough up the judgement or bond.

Trump’s group has claimed they couldn’t find a backer after approaching 30 surety companies. And mentioned he Trump didn’t need to promote any of his buildings at “hearth sale” costs simply to cowl the funds.

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