American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Politics

Billionaire who helped Trump with $175M bond says he ‘probably didn’t charge enough’

by admin April 10, 2024
April 10, 2024
Billionaire who helped Trump with $175M bond says he ‘probably didn’t charge enough’

The billionaire business mogul who provided former President Donald Trump with the massive bond required to appeal his case in New York says he might not have charged the former head-of-state a good price.

Don Hankey is the chairman of Knight Specialty Insurance, the company that supplied the $175 million bond required by Trump’s New York civil fraud trial.

Hankey told Reuters in an interview that he did not charge Trump a high fee for the financial service, saying he believed it was a small risk.

‘We thought it would be an easy procedure that wouldn’t involve other legal problems and it’s not turning out that way. We probably didn’t charge enough,’ Hankey told the outlet.

The billionaire — who supported Trump in 2016 and is backing his re-election — said he has faced intense scrutiny from New York Attorney General Letitia James’ office and other officials.

Hankey told Reuters, ‘We have been getting a lot of emails, a lot of phone calls. Maybe that’s part of the reason he had trouble with other insurance companies.’

‘I’m surprised they’re coming down harder on our bond or looking for reasons to cause issues with our instrument,’ he added.

Trump’s bond was initially set at a staggering $454 million, a value so high he struggled to find firms willing to take on the risk.

Hankey — believed to be worth over $7 billion dollars — approached the Trump campaign about rendering financial services before the bond was reduced to $175 million.

The billionaire said Trump provided collateral for the bond in cash held by a brokerage firm.

‘I don’t know if it came from Donald Trump or from Donald Trump and supporters,’ Hankey said.

Jury selection for the civil fraud trial is expected to begin on April 15.

This post appeared first on FOX NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Experts weigh in on liberal ‘freak out’ over RFK Jr after VP announcement: ‘Democrats’ worst nightmare’
next post
Trump is wrong: abortion opponents are looking for a national leader

Related Posts

Trump rakes in hefty March fundraising haul as...

April 5, 2024

Putin hit man seen as Russia’s big prize...

August 2, 2024

US restricts staff in Israel from traveling outside...

April 13, 2024

‘Disservice to the nation’: Former VP Pence breaks...

June 2, 2024

Schumer may let controversial Biden nominee with ‘problematic’...

May 13, 2024

Kamala Harris offers vague ‘Day 1’ Oval Office...

August 30, 2024

China halts Boeing jet deliveries amid rising US-China...

April 15, 2025

Where does the Modi and Musk meeting leave...

February 16, 2025

Majority of voters think Biden is cognitively unfit...

July 2, 2024

Trump set to host rally in Biden’s home...

April 14, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • GMS stock jumps 29% on takeover interest from Home Depot, QXO, analysts raise PTs

      June 22, 2025
    • Japan’s rice price surge: what’s driving it and why it could spark a political crisis

      June 22, 2025
    • BofA raises STOXX 600 target amid resilient global growth, warns on Mideast risks

      June 22, 2025
    • Palantir co-founder: US must prevent Iranian nukes

      June 22, 2025
    • Fed governor Waller advocates for July rate cut amid tariff, labor market outlook

      June 21, 2025

    Categories

    • Business (3,209)
    • Investing (2,537)
    • Latest News (2,000)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved