Tags: donald trump | bond | hankey group | billionaire | new york | fraud case

Billionaire Helps Trump With $175 Million Bond

By    |   Tuesday, 02 April 2024 09:08 PM EDT

A billionaire known as the "king of subprime car loans" helped Donald Trump pay his $175 million bond in his New York case.

"I had heard that he was trying to put together the $460 million bond. I reached out at that time. We began to have a conversation. The bond got reduced. So they thanked us for the help trying to put the larger bond together. So we said goodbye. A few days later they called back and said, 'Would you come back and do the $175 million bond?'" billionaire Don Hankey told DailyMail.com.

The New York appeals court lowered the bond and had given Trump ten more days to secure it, since his lawyers had said that it was almost impossible to obtain underwriting for the original amount.

"It was much easier, because he put up all cash," Hankey said. "He first gave us a list of bonds, and we approved the bonds as collateral along with some cash. When the collateral was finally posted it appears to be all cash. We have a screen shot of it, and it was all cash."

Hankey does not have any concerns about lending to Trump, and was willing to use real estate as collateral, saying that he thought Trump's credit was good and that "there's not much risk that's involved if he puts up the cash. It's being held in trust for us. I am a supporter happy to help him, also this is what we do at Knight [Specialty Insurance Company]. We're just doing our job."

Hankey runs an L.A.-based auto services empire called the Hankey Group, which focuses on borrowers with bad credit who still need loans.

Jeremy Frankel

Jeremy Frankel is a Newsmax writer reporting on news and politics. 

© 2024 Newsmax. All rights reserved.


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A billionaire known as the "king of subprime car loans" helped Donald Trump pay his $175 million bond in his New York case.
donald trump, bond, hankey group, billionaire, new york, fraud case
279
2024-08-02
Tuesday, 02 April 2024 09:08 PM
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